However, this approach might add complexity, such as additional tax filings, self-employment taxes, and administrative costs.

And file in court 3 days later.

@Marlie Evans To fix past depreciation issues, file Form 3115 instead of amending each year.

We have filed for our LLC and are awaiting our EIN so we can open the necessary corporate accounts.

@Sean Hoglund  Assuming the prior years tax value is lower than your purchase price as in your example, you want to file your ATI Exemption before Jan 31st following your closing date at your county's Assessors office. 

It would likely kill all your cash-flow.In my opinion, filing + advice for someone with that portfolio size should be less.best of luck

Is there any filing that we should do accordingly?

It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/filesGood luck.

Here is a link to all 3 forms you will need: https://www.biggerpockets.com/files/user/ventekrealty/wholesaler-documentsIDEALLY, BUILD A CASH BUYER’S LISTIt’s always best to build a cash buyer’s list BEFORE you start putting properties under contract.

There are penalties for filing frivolous lawsuits in bad faith (those filed with malicious intent and not grounded on law).