Family member will file 1098 's with IRS

Then your choice is probably pay it and/or file a request to appeal to the Board of County Commissioners or whoever has the authority to waive. 

She said that the seller is filing an insurance claim and that the money for the repair will get to us at the time of closing.

They you get it back when you file in April of the next year. 

I filed a CSA insurance claim.

If you plan to do a lot of rehabs and you're on a limited budget you might as well learn the skill of drawing plans for rehabs and how to file permits.

Part of due diligence is a lease file audit of the existing tenant base.

File for eviction the day a tenant isn't paid up beyond the grace period. 

File form 8832 with IRS and have the LLC taxed as a C Corp Pay yourself a small wage as a W 2 employee from the C Corp Keep the profits in the C Corp use that money by the end of the year for more purchases. 

There are 5 touch points.  1 is the initial posting on the door - (some leases will allow tenants to waive their rights to a 10 days notice - for late rents) or a 30 days notice is required on a MTM lease. 2 is the magistrate filing (about $150 to $175 - depends on how much is owed, and how many people on lease or you'll have to write "Et tal" after 1 name to cover the entire household when you don't know exactly who lives there. 3 is going to court - the local magistrate will mail you a date and time to appear.  4 is waiting the 10 days after you won possession.