Robert, the owner of the company does not appear to be "disqualified" according to the IRS defenition (https://www.irs.gov/publications/p560#en_US_2016_p...) however because he is related to you the transaction may create conflict of interest, which is prohibited.

The main reason you want a separate bank account is that it can provide more protection. 

@David Krulac  there ya go completely different than most states.. out here CA you buy the property at tax sale you get a deed in a few weeks or a month or so from the tax collector you record it.. its yours.. now there is a 1 year statue in CA for the owner to come back and say something was wrong with the sale.. but it is not a redemption they have to prove the county messed up the sale in some way.. the easiest way is to prove the county did not advertise the specified days.. we lost one that way.. but that was one in over a thousand my dad bought over the years.In Oregon for Sure the county commissioners actually have the power to reverse the sale.. but that's just getting it back from the state.. next time I see you I will tell you about one case that is fascinating here. but I don't want to describe it in a public forum and give the bad guys ammo if you know what I mean.

Also, with a C-corp you have the ability to raise capital more easily through sale of stock to shareholders (including public).

It was based on true asset protection both from inside the entity and from outside the entity.

On public records, he owes $7k in back taxes, not having paid since 2015.How do I go about this?

I was thinking about putting in the following:Personal financial statementPrior rent rolls on the property for 3 yearsSome type of public report on the value of the complex (zillow or other) ... not sure on this oneA profitability statement ... thinking about using the one on this site from https://www.biggerpockets.com/real-estate-investme...

That might be how you can protect yourself in the future.

Since its our neighborhood and a smaller number of properties, we want our letters to stand out and be personal, yet also want to protect our family's privacy - we have two small children.

because I'm not doing a land trust for privacy reasons. it's just for protection against personal liabilities such as bankruptcy.