Do you have another account to separate and put aside money for IRS?

The other benefit is the expense of managing can be claimed on taxes, whereas someone self managing gives their time for free (according to the IRS that is). 

He couldn't pay back the $30k so it was taxable income, which then equaled a $10k tax bill to the IRS

The IRS has certain thresholds that they use for these franchise fees.

The IRS will not accept a 0 interest deal.I am not an expert, but I would pay something.  

My son and I were museum hopping a few weeks ago.Give me a call when you can, be glad to help you --- we also have a REIA in Baltimore.Good luck.

If there are other things like IRS liens or HOA liens or municipal liens or court orders, you need to understand how your state law treats such things so either avoid those properties or read up on your state laws/ask an attorney.Good luck!  

IRS has 120 day sunset. ( they never redeem).. not sure about state liens want to check that out.. you know child support that type of thing.. and HOA are different in most states. in our state they are wiped out in other states they endure post sale. suggestion I would make is to simply go to the auctions and shadow bid..

If i am buying and flipping houses or doing all my transactions using my established LLC , do i have to have it registered with the IRS and have an EIN number ?

I do not believe it would be illegal, but the IRS might object to the characterization of the loan as principal-only payments.