I was thinking of getting a dental office in it but there has to be a reason why no one touched it for 12 years, right??

Throwing out tenants property without following proper procedures can come back to bite you when the tenant claims there was a priceless diamond necklace in the end table you carelessly threw away.

Neither will the other title company in town.Here is the timeline on this parcel. 2013 - Collector's Deed issued to the city due to a lien placed on it for the expense of demolition of condemned house2016 - Declared excess property by city2017 - Sold at auction to an acquaintance of ours who intended to build on it9/2018 - Owner changes his mind about building and agrees to sell it to us for $5,000Now, $5,000 is no big risk to worry about someone clouding the title by claiming that proper procedures weren't followed and trying to redeem it, BUT we plan to put about $120,000 into building a duplex on it. 

Expect this, and know your laws and what procedures you should follow ahead of time. 

You will need to give proper notice and follow the procedures for eviction in Arkansas.

Once they lose a case due to procedure, they become bitter and remorseful for not spending the extra money to have it done professionally. 

They are just local procedures to cut down on local headaches for county personnel.

You have procedural momentum going, you're excited to close, and you instinctively take the bait. 

Owning/managing an STR is not as simple or straightforward as standard rentals and to successfully run them you need to have good systems and procedures in place to sustain them.   

It should detail the procedure for a member to leave.Also, if you want to cut all ties with the prior property you flip to avoid later possible lawsuit, it may be better to dissolve the company and open another one for the new deal.Or you can also, instead of selling the property, sell the LLC with the property inside.