From what I understand (LCs aren't common here in the west) the seller retains ownership until you pay them off entirely.

In this instance, the U.S.A. child would pay U.S.A. taxes on all income, but the retained earnings would remain in the child company until you explicitly repatriated them to the parent (and there is preferential treatment under the tax treaty for dividends from a child to parent).Keep in mind, the more companies and the more complex your business the more administrative overhead (sets of books, tax filings, corporate filings, etc) you will incur.  

The seller retains the deed.

Plus you retain the cash flow from the original property.

I hope I can get these all ironed out and do this the right way.I may have to find a real estate attorney to do it right, but the one i was talking to yesterday wants me to retain him, and won't give me advice just by paying him hourly. 

You want to file eviction for them doing pest control, rather rash.I'd ask them to give you the contact for whom they used for service, call the company and get a copy of the invoice and hold and retain it and take the cost off their security deposit when then move out, if you think it was their responsibility. 

Then if they stay, you will need to file an unlawful retainer (or your lawyer will), which is similar to an eviction notice.

Common fees will include a set-up fee, leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Your friend retains the ownership of the LLC. 

The last thing you should do is over-improve so use this time to get the exterior in stellar condition, prepare a scope of work, determine tenant lease end dates and decide whether not to renew (and lose the cash flow) in order to renovate or whether you can do more modest upgrades while retaining those tenants.Congrats on your acquisition.