Section D1-4.1, Information Relating to Transfers of Ownership Applicable to All Mortgage LoansD1-4.1-01, Determining Whether a Transfer of Ownership Is Permitted (11/12/2014)[...]D1-4.1-02, Allowable Exemptions Due to the Type of TransferA transfer of the property [...] to [...] a limited liability company (LLC), provided that: the mortgage loan was purchased or scuritized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).Note: The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.

But to take those off now, to rip out good walls to remove ~19SF of lead painted board which is as securely encapsulated as possible--I don't think that would be a good idea.It's an interesting subject.

The note can be structured as secured or unsecured. 

That includes inspection of tenant records.The current Landlord should not share data that requires protection like credit report, social security number, etc.

We would like to secure a loan under the LLC and I was hoping this knowledgeable  community can guide me in kickstarting my research.

You will be returning the apartment to the condition it was in before they lived there so make sure to charge them accordingly.Depending on the strength of your lease, those fees can come out of their security deposit and anything above and beyond that should be billed to them.

By the end of 2019 I am expecting the numbers to be 5.1Mil / 3.2Mil.i will continue secure more assets for 4 years then I will stop and pay down the loans, my end game is to secure a large 30-40Mil apartment unit complex.

If we decide to go forward we may consider a higher security deposit and maybe a guarantor to be on the safer side. 

I'm not sure how to proceed in securing funds or do I just keep saving to buy the next property?

The BRRRR strategy sounds great to me if I can find the right deals and secure enough money to get going.