I didn't get too many details at this point, but I was told that the term is between 10-15 years, then the house belongs to the tenants and the rent increases annually for the most part until then.

Super efficient and I can see who it belongs too.

Regardless of your claimed intentions, the question promotes ways of doing illegal dealings, doesn't even belong on BP!

Gets answers to a lot if questions, I have used this with multiple new people who have the found "lenders" using this method.If you sit down with a pen and paper, make a list of 20 people, friends, family, acquaintances, business associates, business peoe in the neighborhood, your church, community organizations you belong to.

So, what if..I sell my house to the LLC (assuming financing worked - this would mean the LLC gets financed for my house, with my credit, but the house belongs to the LLC, is that correct?)

If you don't know the legal procedure in your state, contact an attorney.The process may goes something like this, depending on state laws: The will, if he has one will determine what happens to his belongings. 

Unlike depositories, if money is lost in some manner, it is money that belongs to ownership in the first place. 

You might also offer some financial bonus for the tenant when they move out if they leave your place in good condition and remove all their belongings.

We have a clause in our lease that reads "The basement may get wet on occasion, please store belongings off of the floor."  

I don't know if there is a REIA around your area, but I belong to one where I'm at.