My question is; does is make sense to purchase this house with the newly created LLC or just hold on to it as is with our long-term renters in place?

Unfortunately, it's not always possible to tell what's being covered up--which is one reason I rarely buy newly rehabbed properties, and I especially don't buy properties with newly finished basements (if the basement is unfinished, you can see a lot more of the plumbing, wiring, and you can also spot signs of settling or other structural integrity problems...but, if the basement is finished, you can't tell what's underneath the new finishings)  ...in fact, I'd say the basement/crawlspace is one of the areas I inspect the most thoroughly, because you can gain so much knowledge about the condition of the property by carefully looking around down there...Good luck out there!

5,000 SQFT 2 Story Historic Brick Building. 2 Apartment newly renovated. 1 Gift Shop, 1 Restaurant w/ Bar, 1 Office area, All Restaurant and Equipment included plus tables and POS system.

The really sad part though is he could have launched himself up to be one of the biggest resellers in the country.. 

I have been offered an opportunity to buy one of 12 newly constructed condominiums.

At least, this is what I am experiencing now putting our newly bought apartment on Airbnb. 

For me it was money to use going forward for my expenses not for rehabilitating a newly renovated home. 

A little about me; Mid 30's, a couple of graduate degrees, newly engaged, no children (yet), own a home in Rockland County NY, volunteer firefighter in my district, and 3 lots (unimproved) near the gulf coast of FL.

Success in any one of these areas promotes and enables success in all others.My ONE thing for 2018 in Fitness is to train for and complete a marathon by the end of summer.My ONE thing for 2018 in my Marriage is to be 100% present whenever I'm spending time with my wife.My ONE thing for 2018 in my AF career is become the subject matter expert a specific area and poise myself to become an instructor in early 2019.My ONE thing for 2018 in business is to launch my website and attain a >1k email list while providing value.My ONE thing for 2018 in my Finances is to reach >$200 monthly cash flow with one good RE deal.In each of these, the underlying goal is to provide value to others.

I have always been interested in flipping homes, but figured a person had to have quite a bit of money in the bank to get going, and as a means to survive until the property sold--but it occurred to me that perhaps I could hire myself (or rather my newly formed construction company) to be the prime contractor on my flips, and therefore I could take a draw on the construction funds during the flip so I wouldn't starve to death (you know, until I'm swimming in cash and don't have to worry about those things, right??).