Get a CPA to advise I AM NOT A CPA THIS IS NOT TAX ADVICEIRS site: https://www.irs.gov/instructions/i1040se#en_US_2023_publink2... 

I also want to be able to utilize the LLC to take advantage of the many tax codes an LLC offers. 

Hey @Christopher Eduardo, Please talk with a tax lawyer to make your final decision, but in general: In a Chapter 13 bankruptcy, a debtor creates a repayment plan to gradually pay off their debts over a specified period, usually three to five years.

Tax.  

My brother's land was bought from tax lien and the court sent paperwork

Someone bought my brother's land tax lien he past away the court sent a court case paper

If you rent it out for more than 2 or 3 years and then sell it, you have to pay cap gains on the profits.I'd also run the numbers on the house to see what you'd get for rent and what all of the costs are associated with the house (property taxes, insurance, repairs, vacancy as well as mortgage payment). 

Moreover, Kentucky generally boasts lower property taxes and insurance rates compared to many other areas in the country. (2020) #3 Cities with the Best Work-Life Balance, SmartAsset, (2018) #3 Best City with the Highest Salaries and Lowest Costs of Living, GoBankingRates, (2018) #1 Most Affordable Cities for an Early Retirement, SmartAsset#3 AppreciationLexington stands out as one of the few cities in the nation with an Urban Service Boundary (USB).

Immediately filed tax appeal based on the closing price, won and reduced the property tax.

Your cash value grows tax-free (with proper planning), providing you with an ever-increasing resource to fund your real estate ventures!