The folks staying in your unit want a seamless transition to their new living quarters, and the person paying wants an easy way to cross out that line on their to-do list.

The only change is you're not working with a bank for this transaction (and, there are so many benefits from that).Ensure you have an easy and smooth way to pay your monthly payment to the seller/lender since you'll be working directly with the seller on that rather than a bank.

While the protection is valuable the cost is very high.The initial process is very smooth and thorough.

Is it best to purchase the property first under my name and transition it to an LLC or establish an LLC and have it purchase the property?

Well my guy that I helped found it on Facebook marketplace the guy was only asking $9,000 and I basically told him I liked it I wanted it and the seller tried to play the smooth saying I've got a bunch of buyers and the price went up and I basically told him to take it or leave it and I bought it for 10,000 bucksHow did you finance this deal?

Not sure what you are using now, but I am sure it will be a seamless transition. 

@Stefan D.So the buying process was quite smooth because the agent that we used with them was amazing.  

I had a super traditional W2 job and, BECAUSE OF BIGGERPOCKETS, made the transition from W2 -> into a non-traditional start-up prop-tech company (fired twice in one month)-> Then, I started our own tech-focused general contracting business serving new to intermediate real estate investors.I've more or less retired as a real estate investor (I still have about 50+ doors, but nearly every one of my deals went sideways for one reason or another), and NOW my ONE THING is working as a GC. 

We are changing the locks and im crossing my fingers it goes smoothly. 

With your impressive background in residential construction and 20 years in the trades, you’ve already got a solid foundation to transition into real estate investing.