Before I was in real estate my business just bought stuff and sold it for more, so I know losses from a single-member LLC lower your AGI. 

If I had my properties in a Wyoming LLC for anonymity and the property can't be traced back to me as the parent, aren't my kids inheriting this property through a business, the LLC (losing the parent-child transfer)? 

Aside from this there’s a real business implication of closing without replacing.

My friend had to fill in a pool because she bought with a business loan for her nursing home and they wouldn't approve the pool.

The home is also next to a major road in Michigan that leads to local malls, major businesses, restaurants, and other popular cities around the area.

There are accountants out there insist that as long as it is a business like arms length transaction that it can be done. 

I am interested in following precedents that could affect my business.

Why don’t you become a business broker?

What is your business plan as that will determine if you even need a LLC

Even though you are going to be the majority owner, remember that things can get a little wonky in business, and make no mistake, if you have 3 other "partners" in this deal, it is bound to happen at some point.