If so, there are no transfer taxes due. 

At a high LTV your leverage will be magnified.If your cash flow really is break even (I have my doubts) then with the magnification resulting from leverage, you could produce a fairly good return (ROI from leveraged appreciation, equity pay down, tax benefits).Good luck

Who covers the tax bill when they don't pay the tax bill or the insurance? 

But I read that there's downsides in doing that just don't know exactly what- capital gains tax, etc. also I was told to open up a new LLC and use my current LLC as the manager.

Out of my 32 properties, I’ve seen insurance rates drop by up to 40% on renewals, and property tax increases are finally slowing down compared to the crazy jumps we saw over the last five years.

So you are able to get the cash flow, tax deductions, etc.

I reduced my responsibility to only taxes/insurance while the tenant buyer does the maintenance, pays utilities and makes monthly payments to me. 

Any tax pro who is familiar with REI will be able to help you.

Most places in Ohio can be profitable rentals... if you can stomach those property taxes!

There are two reasons this is a bad idea.Investing with an SDIRA (assuming it is not a Roth) will often result in paying significantly more taxes.