Better to focus your energy on getting ready to take possession and find a great tenant. 

LLC's are legally considered persons and can possess things like trusts.I would need a bank account for each LLC and a person to act as local trustee in the Wyoming, where I am thinking about having the out of state LLC. 

I'm a huge fan of house hacking, and like you, possess some ability to do my own work in the properties I own. 

@Kris BucciIs the differential based on the price increase between when you sign a contract to when you take possession?

These neighborhoods possess characteristics which are highly desired by today's buyers as well as tenants.

If the person has ghosted you for months, and appears to be gone when can we take back possession?

If you do not, it will be assumed that you no longer wish to possess it and it will be dissolved and lost. 

To be more clear, if there is not a problem with me presenting an offer to my client for myself to purchase, the opportunity would resemble the following:Offer owner $100,000 cash- which she could utilize in the purchase of the new property.Extend the date of possession to allow her ample time to move.Follow a budget of $15,000-$25,000 for renovations/repairs.

I most certainly will try that.Keith - They provide a warranty for fixing the pipe/plumbing, however no consequential damages, i.e. tenant possession damages, they lost many items like rugs, decor, electronics; they just moved in with most items still on the floor. 

If the rental agreement is terminated, the tenant must deliver possession and move out within 30 days or the notice of termination is considered withdrawn.