Lastly,  and possibly the most important,  make sure the security deposits are transferred to you at the sale.

I assume that as long as I don't require any additional security, there's no harm in simply transferring the deposit from them to me?

I've done this a few times with "zero balance transfer" credit card offers.  

I would fix it and hold it as a rental.The day after I found that I saw another apartment that I want to make an offer on listed for about $90k and was recently renovated.Based on my finances, I'm confident I qualify for a mortgage up to $200k.

On the other hand I'm confident I can put together a great package on the right deal in order to present to an investor friend of mine that could fund the purchase and rehab.

The IRS allows for rollover and transfers out, but it is going to be up to whoever the administrator of the plan is if they will allow you to transfer it out.

That looks like a description of deeds out of a real estate book, not state statue but that is correct. 1. they are family, 2. there are differences in English law and Community Property laws, that can govern, 3. estate planning can address disbursements of assets to balance equities among the heirs, 4. operating agreements can kick in after automatic deed transfers to accomplish further transfers.

But more importantly who can recommend a good FREE service for ACH transfers?

We don't have a transfer tax here, so that helps.

They are still holding the security deposits for 2 properties, and March rent from one section 8 Agency since we didn’t have enough time to finish paper work to transfer the payment to our new manager.