Another option is selling one of the houses to recoup some cash, but that's a bit more involved.

I am actually looking to sell my current manufactured home as a subject 2. 

I wouldn't touch Cleveland personally it can't and shouldn't' be compared from an ARV potential it's a cash flow market strictly. you can't do the strategy you are talking about when the average home is more than 60 years old in Cleveland and sells for $120k or less. hard to change those economics.

I am selling my current business and will have about 300k that I would like to avoid paying taxes as much as possible on, so I am looking for something to invest in.  

Personally, I lean toward selling and using the equity you pull out to buy a rental property or something like that.

How many more year left before they sell assets?

That way they can sell you a $10,000 STR course or a $500 one-day conference. 

That can include roof, water heater, HVAC, plumbing, electrical, mold, rot, warped floor boards, bad foundation, termites, sink holes, fascinating animal occupants, bad reputations (that was a drug house or had a fire or was used for other things that I don't want to mention), and so on.

4) Are there any restrictions or limitations on the LLC's ability to purchase, sell, or finance property in Texas?

The co-op is the one selling it since the original owner didn't pay their taxes the co-op became owners.