Especially if your my age or a bit older and grew up on hearing the word “groovy” uttered over and over by Marsha or Greg referring to their new pair bell bottom pants on an episode of the Brady Bunch back in the day.

well this is pretty standard for todays day and age syndicated multi family deal.I think the only issue maybe the refi is not as appealing in a few years with higher rates.. however as stated pretty common set up and common terms. 

I was on what I call the freedom 99 plan as that would be the age I could retire.

I looked at the age and low appreciation rates.

depends on tenant age, maturity and previous home ownership history. pellet stoves generally very safe 98% shut off with no electricity so not great safety net in grid down storm. and flame isnt open to being touched and can be controlled with thermostat   but as with everything from tub, pool, gym, ensure they sign legal form, require renters insurance, get your agent to include it and have lawyer draft a memo and add basic training every heating season. i am looking switch over my oil to pellet wood boiler fed by auger but its auto feed system in basement.  

AND, don't we want to own the property free and clear when we are retirement age so we can just collect the rent to fund our retirement?

Should I be leveraging rental property for 30 years at age 52 or should I be paying them off?

Also keep in mind I factored in 9% between CapX and repairs, assuming the age on the major systems isn't too old. 

That would be correct if OP's father has made or intends to make an S election for the LLC.Since OP did not specify tax status of the SMLLC, we're left to assume no alternate election was made, and the LLC carries the default tax status: 'Disregarded Entity'.A DRE should not be issuing W-2s or 1099s to its owner as it's effectively dissolved for federal income tax purposes and there's no distinction between the owner and the LLC.

It looks like a good rehab was done, should that put me at ease about the age of the property?