Forgot to mention that the units have their individual Assessor ID number.

@Patrick Bergeron The commissioners discussed allowing individuals who recently purchased homes (or were in escrow) to be grandfathered in.

I don't think there is  harm in filing a report but I doubt it will help much assuming you have photos. 

I'm guessing that I'd benefit best by selling them individually, but would prefer to sell them all at once.

@Jacob NovickeIf you are doing them individually, 3.875% all day long. 

Individual licensure with the Office of Financial Regulation for one year will satisfy the experience requirement."

Even with a set funding, there is still a lot of flexibility.Permanent life insurance seems to be a very heated subject with some people saying that it is the worse thing on the market, while other like me and a lot of high net worth individuals and banks are using it as a very powerful tool to increase their return while gaining a lot of tax, asset protection and estate planning advantages.

I guess the bottom line is, can we just do the second home loan(as family  members), have a simple but detailed partnership agreement, and the taxes are passed through to us individually without the need for a LLC.

While, technically, it might be at risk, it's possible a judge may not enforce the surrendering of the entire deposit, since the sellers would not be too harmed, having so many buyers waiting in the wings to take over your position.You are also not necessarily tied to just one appraisal, unless it is an FHA loan.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.