Now for where it gets complicated. 

Although that could get complicated since it as multiple units involved.

We had situations like this in our family and it's a little more complicated than taking some people off the title.The first issue is how much the property is worth, and you need to obtain an appraisal of the property.Then, there is P&S contract where you purchase the property from the others.

Investing in land lease communities and/or investing in the homes themselves is very complicated and requires a great deal of knowledge to do successfully.

@Kayla Holbert(This explanation is not an endorsement of your idea)Essentially you are taking a personal line of credit in a very complicated manner.

@Jacob Michal, so to be clear, you will be the "middle man" in this transaction, basically leasing from the owner without putting title into your name, and then sub-leasing to someone else who is a tenant/buyer.I am familiar with the process, and the first thing to know is there are a lot of potential complications with these deals.  

Some parts of the rehab (carpets and appliances, for example) may be deductible once you placed the property in service, but this gets complicated.

I'm thinking this is more complicated than just putting the company name on my lease paperwork I would use for normal tenants.

Foreclosed properties are a bit too complicated since you won't be able to inspect the property and have to buy as-is.

Have you implemented and exhausted all the other ways of risk mitigation before complicating yourself with the expense and requirements of an LLC?