Landlords generally do not get the forbearance/automated option of payment deferral to the end of the loan that Fannie Mae holders have.

The previous seller (Ioan holder) filed bankruptcy (chapter 13) in November 2019. 

One reason that almost all business sales now-a-days are structured as asset sales, not entity sales.If you do buy into his LLC, assuming it's disregarded for federal income tax purposes, we treat it like this: (1) an asset sale to the existing holder, the buyer obtains an undivided interest in the LLC assets and simultaneously (2) the buyer and seller (members) are deemed to contribute of each of their undivided interests in the LLC assets and liabilities into a newly formed partnership tax entity.There isn't a 754 election available in this situation, as a partnership interest was not what was sold for tax purposes. 

I need a hand holder I guess so I dont make the same mistakes as my first attempt.

Lastly, if you haven't already, contact the housing office to verify the voucher amounts and the number of voucher holders they have waiting for your type of property.  

Ants are everywhere, but they only come in when they are looking for food.

Still, food-service sales in May were down 40% compared to a year earlier, pointing to an ongoing struggle by thousands of restaurants to survive the current crisis.

Of course, this means the note would be for sale, or you convince the debt holder to sell.

Food for thought.

Rats look for food.