Not someone's personal opinion.

The property is in pinellas county (clearwater)   The folks above are correct that you can check out the county recorder's office / public records, which may entail having to go down there in person during gov't work hours.You can also ask your realtor or loan officer, who may be more available, and can send it to you via email. 

Also, an NDA should not seek to prevent a disclosure demanded by law, for example, an NDA to prevent a person from reporting a crime which the person is legally obligated to report will not be enforceable.The scope, duration and restrictions in the NDA must be reasonable.

I believe we have covered most of the needs in this post, but I was becoming unsure about an LLC.From a multi-person investment point of view, is an LLC still the best way to go?

Weather that's for swapping numbers to meeting in person for coffee.

Whenever a person is ready to sell, a thorough cleaning that gets in the nook and crannies is needed.

Another CPA can correct me if wrong but I don't think there's going to be any recapture here.27.5 to me implies 1250 property and if acquired after 75' means no additional depreciation to recapture.I think there would be unrecaptured 1250 in the amount of the depreciation taken previously, max 25% at ordinary rates.The total gain less unrecaptured 1250 I believe would be 1231 capital gains, not considering other factors like look back and netting rules.Also the land would be 1231 and would get capital gains treatment.And personally I would subtract selling costs as a capitalized selling cost.Amount RealizedLess: Adjusted BasisRealized Gain/LossLess: Selling ExpensesRecognized Gain 1001I could be wrong though so correct me if so.Article for those interested:Depreciation recapture in the partnership context (thetaxadviser.com)While Sec. 1250 only requires additional depreciation to be recaptured as ordinary income, Sec. 1(h)(1)(E) subjects unrecaptured Sec. 1250 gain to a maximum tax rate of 25%.

Unfortunately due to personal reasons, I was not able to attend the event.

We spoke with a lawyer who advised forming an LLC to purchase the home to protect our personal assets.

Hi Shivani,First of all, the number chosen will need to align to your risk tolerance.Now coming to your question, when looking at distress homes the Cap Ex won't work because of the condition.