LLC Transfer with Property

[Nate Morris]

While investigating a deal, the owner offered to sell the LLC along with the rental property including the business license, tax ID, and GET/TAT Tax setup. They offered up all the local (I am out of state) legal, accounting and insurance contacts. What questions should I be asking? Is this a wise approach?

[Frank Chin]

I just answered a recent thread why you shouldn't buy entities, just the assets. Reason is you could get involved in lawsuits based on something that the prior owner did, and the tenant decided to sue the LLC after your takeover. See the thread:

Buying entities

As the seller has legal and accounting help already, it's safer to have a new LLC and your own licenses, relying on the legal help offered.