Be sure to include all the pet clauses you want in the pet addendum, there are a lot that go overlooked, pet restrictions, no limit liability, violation fees, are just a few to name.

I thought the liability is pinned down due to who caused the damage instead of whether something was in the building or not when it was built initially.

I have questions on how being added to these deeds and creating the LLC will impact my taxes and other liabilities like child support but I am not sure if I need to talk to a CPA about this or a lawyer.

Each member directly gets their tax liability apportioned to them via the k-1 forms.

Lenders try to avoid environmental issues for a lot of reasons: less liability, increased marketability, costs associated with cleanups, etc.

I remember from my lending days that the acid test was Cash plus Marketable Securities divided by Total Current Liabilities.

To answer your question, your liability would be determined by answering several questions a.

As a condition of closing most buyers will require that those tanks are removed and the site is eligible for participation in some sort of brownfield/UST remediation fund and liability protection.

Jim, an LLC isn't usually set up for tax purposes, it is usually set up to protect your personal assets from liability.  

There maybe liabilities or lawsuits that you are unaware of.