Buying an LLC as opposed to the property to avoid a tax hike?
I am an investor in the NE Ohio area. We are buying a turn-key multi-unit property from someone who flipped it. They are currently paying pre-flip taxes. If we purchase the previous owner's LLC and have title remain in that entity's name as opposed to purchasing it and placing in our LLC , would that avoid a tax hike from the newly re-finished property? Has anyone done this before? Any input would be greatly appreciated.