@Tariq K Frantz what often gets overlooked about these asset classes (and what Sam Zell relates to) is the long term success they are capable of creating, simply due to their intrinsic characteristics. 

Does anyone search the sex offender registry to see if there are any close by before they pursue a property?

Our thought though is that, since lawn maintenance is a tenant responsibility per the lease, he doesn’t have much grounds to charge for anything related to lawn (unless he tried to claim some sort of damage to the yard I guess).

Capital gain will be calculated as: (Sale price - Selling costs) - (Purchase price - depreciation + improvements + purchase costs)Additionally, the portion of the gain that is related to the amount of depreciation that was taken on the property will be taxed at your ordinary tax rate, up to 25%. 

Remember costs remain relatively the same (cleaning, etc) so the profits are far less.

And you can always require your renters to carry renters insurance.2- Landlord tenant law is state-specific, so you would need to research codes or reach out to the state real estate authority or your local metropolitan housing authority (MHA)....they are usually a good resource.You would need to check with your county auditor to see if there is a requirement for a "rental registry"...this is county specific...or could be related to city ordinance as well.

The mother died without a will and the daughter had so many other issues at the time that she just couldn't deal with it, she is relatively young and drugs were involved w her mother's death, so there are a lot of issues here. 

What do you think is a fair price to do a relatively simple year of LLC taxes, generate some K1s and 1099s - $650-$750?

There is always some other misc expense related to an specific property/transaction. 

If you don't intend to borrow too much and plan to pay it back relatively quickly (typically, you're looking at a 5-year loan if the borrowed funds are not used to purchase a primary residence), this strategy may work.