for proper tax treatment you need to know what type of tax entity the LLC is. for example, buying out their interest in an LLC taxed as an S or C Corp would mean you cannot depreciate any excess of the amount you paid over the tax basis of those properties to the LLC. if it is LLC is taxed as a partnership that creates its own issues because there cannot be a one person partnership so the LLC partnership terminates. There are mortgages where we do not know their provisions. however, the lenders may be able to invoke any due on sale clauses. The DOS would likely occur if you were to buy the properties from the LLC
