If there are signs it's operating as a personal account (ie. cash withdrawals and , or appears to be (eg. expenses paid personally) your LLC, if challenged in a suit, could be broken and charges put against you as sole proprietors.

Other than riding it out until the tenant's lease is done I don't really have any good advise.If you absolutely need the money then, the best bet is to negotiate a buyout for the current tenants, sell and pay the taxes.

Also, I would bet that you will get recommendations to rip out all the sheetrock while under negative pressure where mold is present. 

Issaquah is a bit east from where I normally roam on the east side, but I bet you're a fan of Half Price at Crossroads.

I bet you would be one of those picky tenants that expects the land lord to buy light bulbs.

Some employ a very linear strategy, in that they always operate with the same strategy in the same asset class with the same geographical focus.

However, I get what you're trying to do in order to be able to just print off a balance sheet to show your Net Worth.I do disagree with your CPA about putting in an offsetting liability as this still will not get you what you're looking for.Instead, I would create a separate asset called "After Purchase Appreciation of Asset" and debit that for the increased value.I would then create an Other Expense (Not an Operating Expense) and I would call it "Non - Taxable/Non Deductible Transactions". 

Farming operations have scaled correspondingly and what was the family farm of my grandparents is no longer sustainable ... in the areas where my parents grew-up, many "family" farms today are working  6 - 10 sections annually - a task that requires millions of dollars in capital equipment.There are also farmers who are specializing in organic and/or non GMO crops (both of which may require maintaining a wide border strip between their fields and their neighbours crops).There were (and likely still are) two principal ways of renting farm land in that area: a) straight rent per acre/quarter/section or b) a share cropping arrangement with the farmer working the land.  

It depends what you need a real estate attorney for.Forming your company, preparing Operating Agreement, etc. ... you can hire CA counsel.Dealing with local law, leases, tenants, legal issues and evictions ... need UT counsel.

I bet the DA starts looking into the timeline up to present day.