What happens when multiple counties, cities, and states have to declare bankruptcy?

I failed to mention that we declared bankruptcy in February of 2015.

You don't have to declare who is in control of the LLC each year.

Lender declares $5000 of interest income, borrower may be able to deduct $5000 of mortgage interest.Balance of loan is $105,000.Gift $14,000 as a reduction of the loan (NOT forgiveness of debt). 

It has to be a gift w/ no expectation of repayment  (here the giver will often be asked to sign a declaration).4) An equity partner who will bring some of their own cash into the deal.

The 2019 declaration of a new lead ordinance which would be enforced by Toledo's Dept of Neighborhoods (not the County Health Dept as the ~2016 version was going to be) has been officially ended. 

How formal of a process is it to declare the "placed in service date"? 

In most states, the public auction clears out any junior liens, but there are exceptions such as tax liens, which typically will continue to be in effect after the auction"They are transferring title via SPECIAL WARRANTY DEED, rather than TRUSTEE DEED,so there's this:Special warranty deed Arizona and junior liensArizona Revised Statutes33-402, Forms for conveyances; quit claim; conveyance; warranty; mortgage .... 33-723, Right of junior lien holder upon foreclosure action by senior lien holder ... 33-730, Limitation on deficiency judgment on mortgage or deed of trust as .... 33-1226, Easement to facilitate exercise of special declarant rights ...www.azleg.state.az.us/arizonarevisedstatutes.asp?

My concern with these (besides the size of the deals) is what happens if the tenant declare bankruptcy.  

To declare a property management business on Sch C and deduct common for all properties expenses such as car, management etc and to allocate individual property expenses/income to sch E for each property?