In order to close on the Florida deals I needed to create a land trust. 1) how do you guys structure your LLC VS. individual trusts for each property? 

If so, how do you structure it?

(Single family structures) . 2 different styles, an 800 sq ft and a 1300 sq ft model.

To further mitigate that risk, we have clients who layer their LLCs with a parent / sub structure which is beneficial for a number of reasons, including scaling a portfolio, entering into to JVs, etc. 

This post is confusing, when you're referring to lots, are you referring to "land" or improved properties, ie with structures/homes on them?

Being that there's no structure to depreciate, i can only deduct taxes and insurance?

., what's the status of plumbing, electrical, any structural issues, etc.). 

Perhaps the sellers CPA can be more creative and structure the sale as a liquidating distribution which instead of being taxed as a dividend is considered a stock buyback. 

The foundation cracks are common, as long as the work was done right and there isn't any structural issues(bring an engineer out to look at it).

If I can find something that needs help cosmetically but is solid structurally, I can get a really low price, then start enhancing.