As a college student, I always figured I could start out as an owner occupant to start owning a few properties in my 20's but after that what is the best way to accumulate property?

This option will not give you immediate income, but can help you avoid the withdrawal penalty and preserve your accumulated wealth.Another option is, if you become self employed in real estate, rolling over the money into a Solo 401k can give you access to the loan option.

I came to the same crossroad, was a very busy tech executive, was accumulating SFRs and small MF, but wanted to play bigger.  

They say "cash is king", and I would go with accumulating cash for the next opportunity.

Damages to the building itself would be paid from the building’s accumulated funds (sinking fund) pool so that part wouldn’t affect the owner in most cases.Mortgage Interest - Typically you wouldn’t incur mortgage interest in Japan because finance for international purchases is not readily available to foreigners in most circumstances.

My question is once I accumulate more properties and begin to move them into LLC's how do I go about transferring my monthly profits from an account owned by the LLC into my own personal account?

My main goal is to become a buy & hold investor, to start accumulating properties slowly and surely (in a pace of 1-2 doors every 1-2 years) until I have enough passive income to live my life by my own standards.

If your goal is to accumulate properties it would probably be better to stick to the 30-year to preserve room in your debt-to-income ratio for future acquisitions.

This does not make sense to me as you are now carrying forward an accumulating balance that has nothing to do with the current years books. 

They would just have to earn enough from the sale to pay off the mortgage, plus any accumulated late fees and interest.