I was conducting an extremely seasonal business and after 8 years of operation the business was insolvent. 

Unfortunately, no one is "allowing" them to operate, @Stylianos Kalamaras.

We'll go check out the operations. 

In that case you will need to analyze the comps, and keep in mind operating two units on one property can bring other costs and operational issues.2.

If you want the furniture, just negotiate that and put it in the contract.Could you lease it from them for those 3 months and operate under their permit till yours is available?

Why not take his name off the LLC and put it in your name now while the LLC has $0 of value (or whatever nominal amount your articles of organization or operating agreement say that you contributed)?

@Jenny Yu sorry to hear about your experience, we own and operate 51 units we own and manage for other clients in Jacksonville and Orlando.

For instance, in my private lending, I dont really give a numerical credit score much weight, but I absolutely look at the composition and history of the individual tradelines on a report if the borrower is a smaller outfit, such as a single member LLC or similar solopreneur-type operator.

In New Jersey, there are numerous brokerages to chose from, and I highly suggest you do a google search and look into 100% virtual real estate brokerages in New Jersey. 

If you are accredited, the best thing to do would be to invest 50k into a syndication and soak up all the knowledge of how it works from an experienced operator before you make the decision whether it's your plan.