I have a main company, that owns a bunch of LLCs, each LLC holds a single real estate asset. 1 of the LLC also acts as a management company for the entire portfolio.Now it creates a problems that with each LLC, I need to file a tax return each year. and so far I am doing them by excel copying numbers from bank statement, which is a nightmare.Quickbook online charges $24 each month in Canada, which really adds up with the number of holding LLCs. and I don't feel like what I require from it justify the cost.

The faster you can pay the infamous "dumb tax" the faster you can create wealth. 

However, high property prices and steep NJ taxes mean you must carefully analyze cash flow.

But the IRS has said that it is not appropriate to purchase from a related party when the purchase is an attempt to avoid tax. 

Every little thing in the project should be in writing, even down to the door stops :-) See my tile spec sheet below ...Two problems with your post though - 1) In my experience, most problems come from the customer changing their minds constantly.

Wyoming has no state income tax.4.

The IRS has a guide on rental income and deductions that might help: IRS Rental Property Tax Guide.2.

Did this go to auction or a tax sale?

They have about 250k left to pay off and the value of the home is around 400k (based off of Zillow).

This can be a great way to get leads on off market properties.