The advice would depend on your main goals with your investment. 

You own the LLC, and just like any other business and the income/loss of that business will factored into your debt to income. 

I don't do business in PR.

Attending auctions, negotiating directly with banks, and exploring short sales are all viable strategies depending on your investment goals and risk tolerance.

In short, their horrendous customer service and business practices cost me 5250.00 USD.

@Karim Elahi there are areas with massive section 8 potential and appreciation (19145,19146 areas of South Philly can be great) the areas however will depends entirely on your investment strategy.  

We don't have aggregation of rent and it depends on location.

Reno is much closer to Phoenix in being Landlord friendly and business friendly.

A Walgreens with 25 yrs of lease left and 5x5yr extensions will be "safer" than a stand-alone mom and pop restaurant with a 5 yr lease and no experience in the restaurant business.  

Depending on the loan program you would likely be able to vest the title in the LLC, meaning the LLC is the owner of the property, but of course you are the owner of the LLC.