Just because LLC1 is funneling its proceeds through the parent (Mgt LLC in your example) and over to LLC2, I am not convinced that this would not default the LLC protection due to "co-mingling". 

I was surprised to learn - and frustrated, as it should have been evident weeks earlier but was not mentioned to me - that Quicken Loans wouldn't proceed with a purchase loan because title will be held by an LLC.Is this customary?

I guess my question is, once you find the property and have possible numbers - what's the next step in proceeding with the deal?

@Naillah Valor I'd proceed with caution.

the seller was motivated to sell at a discounted price due to his need to do use his proceeds on an exchange he was doing.

I've done some research online about the CDC Moratorium on Evictions and understand the federal government has extended the moratorium one more month - to end on July 31st instead of June 30th, 2021.I've also read that the Texas Legislature has basically decided to no longer enforce the federal ban on evictions and that Justice of the Peace courts can NOW proceed with evictions for non payment of rent.

Nebraska is a tenant friendly state, not sure how far in court this will go

Some demographics are more likely to be represented by FREE lawyers.If a resident (or other) hits the LLC (who will be the owner) with a lawsuit, the LLC's bank account will probably be locked by the court, this can create a lot of stress if all of your eggs are in one basket.

House hacking, living in one unit and letting the proceeds from renting the other unit pay for my living expenses.

In rare cases it may be possible to have a court enforce the terms of the contract and order specific performance (sale of property).