Later if the LLC distributes the retained land to the members of the LLC they will get it without triggering a taxable event, correct? 

Foreclosure on the property would probably be considered a default by triggering a "due on sale".  

Am not sure if that will trigger Bank Loan revaluation.By the way concern is that deed is on his LLC? 

Adding a dog when not allowed is breach of contract and enough to follow your laws of non-compliance. 

No code of compliance for a few things built on the property that the council claim as their land.

And the low interest rates is what made me decide to go ahead and pull the trigger...

(Underline and bold added by me):460.100: Duty of Owner(s) of Residential Premises (B) Whenever any residential premises containing dangerous levels of lead in paint, plaster or other accessible structural material undergoes a change of ownership and as a result a child younger than six years old will become or will continue to be a resident therein, the new owner shall have 90 days after becoming the owner to obtain a Letter of Full Compliance or a Letter of Interim Control, except that if a child younger than six years old who is lead poisoned resides therein, the owner shall not be eligible for interim control, unless the Director grants a waiver pursuant to 105 CMR 460.100(A)(3).

I have not yet pulled the trigger on anything yet.

If flipping and BRRRR trips your trigger then learn all you can on the subjects.Always be networking - Go to events and talk to everyone you can.

DOJ uses that as a "trigger" for an investigation.