The problem is, as a Client Trust Account, they effectively took money that belonged to other Clients.

Newbies want to know why they are so nervous to pull the trigger have to look no further than this type of kool aid drinking to instill a deep fear in making life changing moves. 

I've seen many investors have serious tax problems when they pass away because it is common for some property tax collectors to consider that properties in an LLC belong to the LLC, nor to the owner of the LLC and the property tax benefits do not pass to the LLC owner's heirs.

(we don't drink) Cheese?

Other downsides to going this route: the process to get the unit approved can be long and tedious; the apartment has to pass section 8 inspection - they are thorough, and go by the book.

There is no drinking the Kool Aid on this one because appraisers tends to do a very in depth job on a commercial appraisal to understand, not only the produce but the surrounding market as well. 

Just remember, those postings always belong in the Marketplace.

Before bidding, I checked county records for the property's title, and it looks like this belonged in an MBS that was foreclosed on and finally sold to the eventual seller, who is unloading it on **********.

Security Deposits need to be transferred, they belong to the tenants.

Tip: ALWAYS require your tenants to carry renters insurance for their personal belongings.