@David RobertsYou're right David when I inherited a property my mother was renting out I was stuck with a squatter and it was a nightmare.

Since partners die, this arrangement complicates buy outs and heirs inheriting the LLC interests when partners split profits differently than to their capitalized positions.

I agree an assignment of rights for their share of the inheritance is where you start. 

The lessens here for the readers is take note, you are literally buying a file that needs to have stuff in it.  

Or perhaps it was inherited by the kids and they don't want to mess with it?

For the two properties we've purchased, the only tenants we've had problems with are ones we inherited!  

So the fact that the legal document I am holding which has no signatures and no notary stamp and on public record, only the 82 year old is the owner, this is definite proof that she is the owner, she document was never recorded and if she died tomorrow, the 4 would  not inherit anything, just the two adult children (the guy in the basement and the other daughter)?  

Because I have never been able to figure out how the numbers work.Me and my siblings share ownership of a (inherited) beach cottage.  

. , if the seller owns other places, she probably knows what she is doing (unless she just inherited them all).  

These risks can be managed and lessened by having a plan detailing how the company plans on dealing with them.