The only thing I can imagine rescreening for would be a criminal background check for your liability reasons.If you let them stay on and they turn out to be bad tenants you will likely have to evict them. 

All my assets are in my name and have about $2,000,000 in insurance between liability and umbrella.I want to protect assets from tenants (obviously) but also from future wife if I ever get married. 

Maybe they sold it to themselves at a loss, so the LLC would lose money and then reduce tax liability.

From my experience as a Registered Creditor's Representative in Federal Bankruptcy Court, the contracts that were entered into prior to the filing and which have yet to be performed are contingent liabilities of the Seller.

So I told the homeowner if the bank won't waive the 1099 then I'll step out of the deal and let them sell for a higher amount to someone else for less tax liability.

It is an investment property where their company built a home and because they could not sell it before closing the construction loan they took it on as a personal liability.

At 65,000/month payroll liabilities it can eat you up pretty quick.

But as a fellow investor I always recommend to put your assets into an entity that will limit your liability.

You don't want to find someone that starts a job and can't finish it, because most contractors won't come in behind another due to liability issues, unless you pay them really good for the risk.

Marie Poe Jake Kucheck I think the important thing to note is that Jake is a licensed California real estate agent, therefore; he's considered an "expert" by law, expected to know the laws of the State, and not asking for your counsel, only forms, therefore no liability, which would not be the case for others.