I personally believe the positives of FHA financing far outweigh the perceived liability exposure many caution of and its one of the few circumstances where I wholeheartedly believe investors should prioritize FHA financing over purchasing properties in an LLC. 

Anything would help feel free to contact me and give me advise, thanks anything would help!! 

2 Person Partnership LLC (Form 1065, K-1s to Partners) owns Rental Property which is planned to be sold.

If you don't feel up to a fairly significant repair, I'd walk.

You also have bank statement loans where they use 12 or 24 months gross deposits of a personal or business checking account.Buying a primary home is the fastest and less expensive on the pockets to then transition into a rental in as little as 6-12 months.

Feel free to reach out if you have questions about the Memphis market. 

If you have any questions or just want to talk feel free to reach out to me directly.

Can you file 2 years of 1040's for a person that passed away in 2022 but has income for both 2022 and 2023?

Thanks @Adam Bartomeo and @Chris Seveney.My plan to move the rental property to an LLC was to remove personal assets from any liability claims (i.e restrict liability claims to assets of the LLC).Yes my plan were to quit claim the deed to the LLC, but if the mortgage company is not cooperating I probably have little choice but to leave as it is.

Yes, you can do SDIRA buy a distressed property and rehab the property.BUT be aware of "Prohibited transactions" and  "disqualified person".