Long term wealth is made by owning, not selling every time you think need the money.

Do you want big upfront payment year 1 or smaller monthly payments spread out over time.5.I'd also think about what you want to do with the money. 

But he was too smart for that and read somewhere that he’d save money by not using an agent.

Contact the tenant and tell her how much she owes.

From my understanding I would also make my money back on the sale of each home. 

If you are new you might over see many things that can get you into trouble and lose money and then have a salty taste about investing and not want to continue this journey.

I inquired about the possibility of a two-company structure: A traditional LLC that is the public face of the activities (collecting rents, paying contractors, etc.) and managing the Series LLC with each property in once cell in it (in this case, Series LLC is serving as a holding role).Again, one attorney said that would be much better than a standalone LLC and that is recommended approach, and the other said it is waste of time and money since there are some requirements from Texas Real Estate Commission, which is requiring being a licensed broker in the state to operate in the managing LLC.So, just want to hear what other Texas investors are doing when it comes to series LLCs regarding these issues. 

So, they don't owe you anything and you should probably be grateful for any amount they gave you.1) It's probably cheaper for them to offer you "hush money" to keep quiet vs suing you for libel.

Check out BP's tab:Find a Hard Money Lender - Best Hard Money Lenders Near Me (biggerpockets.com)

Watch out for fine print that requires an additional fee at closing - this is a huge red flag and how most flat fee companies make money.