On your cash flow are you subtracting out what you pay yourself/benefits for you, taxes?   

Should I just forget the LLC altogether and "sell" the property to my daughter, so she might be able to take advantage of any future capital gains taxes? 

If he is working full time on real estate you’ll qualify as real estate professional for tax purposes.

I am in the process of filing taxes.

If you have self employment or gig jobs you need 2022 and 2023 IRS taxes filed and all the pages/1099/w-2/LLC/Corp/personal and 2024 income.

.• Expenses: Estimate operating expenses including property taxes, insurance, utilities, maintenance, vacancies, and property management fees.• Financing: Explore options like FHA loans, conventional loans, or portfolio loans.• Cash Flow Analysis: Use a tool or spreadsheet to calculate projected cash flow.Based on your estimate of $300 per month in cash flow, make sure to verify that this aligns with your financial goals and risk tolerance.

Monthly rent + rate increase + probably getting a clearer picture of taxes/insurance would be my guess for that.So I wouldn't completely blame whoever you were working with on that, but if it were my client I would have tried to get a clearer picture of that going into it and either treat it like a 'vacant' or go off of market rents (assuming they are closer to $1200).Good luck!

Taxes are also always going to be a consideration, and this is an assessment year, so you should account for them going up more than usual in your projections.  

If its a tax deed foreclosure that may be different as typically in most states you would have to go throught quiet title. but if its a mortgage foreclosure you should be able to get title insurance.

The property is being sold as raw land below its tax-assessed value.