I'm weighing that against selling it (probably would get $275k with $178k left on the mortgage and then paying 6% to realtors and 2% transfer tax to the city).

Which would mean your deed would transfer to the buyer wouldn't it if they sold it to someone else?

We have knocked doors to be proactive and attempt to get them to sign a short lease ( No security deposit is being transferred we are attempting to get a short lease with security deposit lined out so we will not be responsible for it.)

We decided to start renting it out, and all agreed to transfer the title to an LLC.

It is assumed new owner will transfer lease. 

(need to check on this but he is a licensed RE agent).The property would be transferred to an LLC and he would provide prop management(8%), take care of maintenance, etc.

BTW a fair amount of sales in this business are pocket/confidential listings that never make it to the internet, so that’s another reason to build a relationship with a broker.For Florida, give me a call and I will do my best to help.James CookFL MHC/MHP/RVP Specialist

Do you have a receipt from the former owner on the fridge purchase and it's transfer to you upon closing of the property as an asset??

There should be a Tax Deed in the records bearing the name of the Deed Purchaser/Current Owner.Next, basically the Tax Deed Holder did not bother to Clear the Title after acquriing the property from the Tax Sale for a future sales transaction, which requires Title Insurance/Warranty Deed to transfer it to you as the new owner.

Here's what it says on the IRS's website involving disqualified persons:Prohibited transactions in a qualified planProhibited transactions generally include the following transactions: A disqualified person’s transfer of plan income or assets to, or use of them by or for his or her benefit A fiduciary’s act by which he or she deals with plan income or assets in his or her own interest A fiduciary’s receipt of consideration for his or her own account in a transaction that involves plan income or assets from any party dealing with the plan Any of the following acts between the plan and a disqualified person: Selling, exchanging, or leasing property Lending money or extending credit Furnishing goods, services or facilitiesExempt transactionsThe law exempts some transactions from being prohibited transactions.