At some point will you sell a few to make a lump sum to payoff some of the debt or will you hold and simply let tenants pay it all off over 20 or 30 years?

If the property is owned by an LLC that you own, the LLC is the debtor.

If the property is owned by an LLC that you own, the LLC is the debtor.  

They might agree to some type of workout but they were looking for people who could perform.When an individual borrows on real estate property he signs a Note (which is basically a type of IOU) and a Deed to Secure Debt, or Mortgage (a collateral agreement which gives the lender the right to take the property if the borrower defaults on payment).

I can then use this cash in case of an "emergency" such as a new A/C unit, renters don't pay, can't find a renter, they trash the place, etc.The last things I want to do are borrow money from friends and family, rack up credit card debt, or hastily sell the house.Thanks for the advice.

That could play into whether or not the lien will be wiped out in the event of a Debtor's bankruptcy. 

Ch. 13 is only possible for debtors with enough documentable income to support a payment plan.  

I am a bankruptcy attorney on the debtor's side.

You need to think about the psychology of the Debtor, and the likelihood they would file for Bankruptcy and null your judgment.

In reality there is no good debt or bad debt - there's only cash-on-hand, debt, and the opportunity costs and risks of trading between those two.