First time purchasing an investment property without a realtor

[Brian Yang]

This is my first time purchasing an investment property without a real estate agent, and I want to get things right.  Just need some folks to double check my work and give me some feedback.  I've bought two homes in the past, but it was all a blur.  Both were done online and overseas with realtors, so we used DocuSign/print, sign, scan techniques and I'll probably do the same for this one as well with the attorney.

My next door neighbor is moving in a month or so and wishes to sell their home.  I've run some comps within my area they're going to sell it to me for the market price, $145,000 (Unfortunately, it's not the deal of a lifetime, but the home is maintained very well by very respectful people, and the couple are senior citizens.  I'm trying to save them a few bucks as they move).  

1.) Conduct home inspection by a certified home inspector.

2.) Research for loans and get prequalified (I have a few banks in mind/local banks/local lenders for a 30yr mortgage).

3.) Lender Appraises the home.

4.) Talk to a real estate attorney to represent myself (buyer) and the seller.

5.) After the inspection, ask the seller to repair or renegotiate the price / agree with terms.

6.) Meet with all parties and do the paperwork. Sign the Paperwork. Submit earnest money

7.) Send all that stuff to the bank and wait for Closing.

8.) Close, sign more paperwork, send Down payment to the bank, the seller received payment from the bank. 

9.) I get the keys, and they move out.

Questions:

1.) If everything goes through, does the bank cut a check straight to the seller after I deposit the down payment to the bank?

2.) Can the same attorney represent both the buyer and the seller?

3.)  Am I missing any key players besides the seller, buyer, appraiser, lender, attorney, and the home inspector?

4.) Does an LLC need to be set up in advance or can I set up the LLC after closing to put the property under the LLC? I just read in another forum that an LLC is only needed if I'm very wealthy (which I'm not), so I'll stick to liability insurance.

Thanks, everyone for your time in reading/replying.  The area is Fayetteville, NC 28304 area.