I would recommend evaluating each home on an individual basis rather than the combined financials of the package.

Can I purchase the property for said individual right off the bat from the LLC?

A business as a DBA means you are doing business as an individual but not using your normal name.

These prices indicate there is no land involved, so the mobile homes are personal property.

They had an apartment building (I think, not quite sure) they were converting to individually owned units.

I assume that you are not inheriting the property since you indicated that you will owe quite a bit of tax on the funds unless you do a 1031 exchange.

Since all you have is a contract right and you sell that (via a simultaneous COE on the same day) and you have held that contract right for longer than a year, it should still be treated as a capital gain to the LLC.The capital gain recognized by the LLC will flow through to members of the LLC via a K-1 form, which will get reported on your individual tax return in the same character.Caveat....please check with all the details of this transaction and make sure you can show you had and investment intent from the beginning to support your case and that you indeed have a binding contract that is assignable (most are if you have a good attorney).As for keeping the cash in the LLC, it doesn't matter.

I have a feeling the current market is scaring off potential buyers, and the area has a strong smell...I'll have to look into why it reeks of cow patties, but other than that the homes are very nice.So what indicators should I be investigating?

Be tough to do 30 rehabs at once.That sort of sounds like neighborhood revitalization, unless there are just individual properties spread out in otherwise nice neighborhoods.

It may surprise you to learn that here, in Honolulu, the zoning for rentals is quite regulated (note- I did not say enforced) While Waikiki is largely "resort" zoning, which allows daily rentals, there ARE individual buildings that restrict this, requiring 30 or even 90 days minimum occupancy.