Early on in my research, I'm seeing that in the state of NJ you need to have your broker's license in order to legally be able to manage other people's properties.

The same way attorney's on this blog like to remind us they are not our attorney, nor are they giving legal advice. 

Besides, inherited tenants often come with inherited headaches.Serve them with the shortest notice to quit that you legally can (both by whatever is in their m2m lease and Ohio laws) to get them out as soon as possible. 

In addition to what @Peter Lim asked, coming back to the question of "have you confirmed that it is legal to short-term rent the property?"

The last day of the period so computed shall be included, unless it is a Saturday, a Sunday, or a legal holiday, in which event the period runs until the end of the next day which is not a Saturday, a Sunday, or a legal holiday, or, when the act to be done is the filing of a paper in court, a day on which weather or other conditions have made the office of the clerk of the court inaccessible, in which event the period runs until the end of the next day that is not one of the aforementioned days.

This allows us as purchasers to take title to the real estate without changing the legal owner of the real estate and triggering a property tax reassessment.

On the one hand the tenant ticked me off in terms of how she left my property without notice and hasn't taken any responsibility in working with me outside of legal proceedings so pretty happy to stiff her with the full amount. 

I don’t think it’s exactly legal but oh well!

I know legally it can be done but tax-wise how would this be done? 

This seems like it could create all types of problems, but maybe I am just unsophisticated. you can transfer title sub too that's legal.. what you have is alienation of title.. and alienation of title is an event of default.. in an event of default the lender or holder of the note and mortgage may at their choosing accelerate all payments due and payable.. that's the riskthe land trust while nice is still an alienation of title.