Otherwise maybe you can collect a consulting fee for walking your buddy through the steps that THEY will need to do in order to manage the property (still guidance, still earning, but NOT managing the property).That's all I've got. 

We haven't actually even started collecting rent on either yet but I think we're close on the NS one.Those were both more of a personal purchase (with rental perks) but trying to figure out where to buy an ACTUAL investment property and not thinking with my heart so to speak is much more difficult!

Am I allowed to pay the mortgage through my LLC which is collecting the rent?

I am worried that you may have to carry a gun to collect your rent in this type neighborhood.

I would collect 30 years amortized payment (P&I) and balloon in 3 or 5 years.

Ask the bank or the property manager that collects the dues.

You should also request bank statements to verify that the landlord has in fact been collecting the rent amounts specified in the lease and on the rent roll.

Until recently, they were collecting rents in person, but they are no longer able to, due to advancing age and disability.Does anyone out there please have some candidate property management companies, that are reputable and honest, and would be willing to service this level/number of apartments?

First, if the closing drags on because of bank paperwork, you don't care because you are collecting rent. 

What is the best method of collecting HOA dues?