After I posted this I spoke with two real estate attorneys AND my accountant who confirmed what the two of you said and added some points: The  LLC adds a layer of protection, one attorney did bring up that an LLC does not protect the landlord against liability for lead paint (the vast majority of homes here are pre-1978).

I met them online and we are not in the same market so I am unsure of how to about vetting this person and confirming they are as knowledgeable as they say they are. 

@Ryan Swan@odie Ayaga  What is your recommending software to run comps.

Start making calls to confirm the numbers?

Although, in some cases, based on employment and such, they will ask the potential borrower to provide the past two years NOA (notice of assessment) to confirm that no taxes is owed and to confirm tax returns.

Is the software worth the buy?

@Andrew Wiseman  Have you first confirmed he owns the properties free and clear?

Has anyone had any experiences using any property management software. 

Since there is no written rental agreement, you'll definitely want to obtain an estoppel certificate before you close to confirm important details of the tenancy (i.e. how much the monthly rent is, whether or not the tenant paid a security deposit and if so how much, who pays utilities, who owns the appliances, etc).Then, after you take ownership you can have the tenant sign your own rental agreement. 

Eventually you can use some software/apps, but pen and paper or a Word/Google Doc is fine for now.