However, I do try to understand all expectations and limitations up front.  

Do you typically have people fill out application and do background check?

I understand it's a cheap home to purchase, but keep in mind that it's a 2bed, 1 bath and that's a major limiting factor in the future. 

probably not what you want to hear but no experience and 100% LTV and 100%  rehab funding simply is not in the market place.. the only people that will offer that I will say with 99% accuracy are scammers telling you what you want to hear to beat you out of small amount of due diligence money or application fees and will never fund.. this simply is not attainable nor SHOULD it be..

We want to run everything through our business and found out the government will not accept our tax application if the title on the property is not the business.

Remaining tax would be total taxable gain less depreciation recapture less PAL carryforward (from "unused" depreciation expense)Alternatively, could I not depreciate the property (which i did not do for the past 2 years in error and need to file amendments) and file a Form 3115 (application for change in accounting method) in the year in which I sell the property to catch up and claim all the the missing depreciation all at once?

I want to save myself from having a headache later, as well as with a FHA loan what are the limits?

You can take it down, do limited or not repairs, and wholetail it... or owner finance it. 

@Stephen BensonCozy.co is the website we use for applications, background and credit checks

AZ does offer something like the series LLC that we use with L&L called a family limited partnership that acts as a holding company which you then can have similar set up of child LLC set up under it.