I believe the "evidence" is pretty strong that rent control doesn't work (of course, I'm preaching to the choir, and will say later why I think RC is actually good from a messaging standpoint).

we have cash (just not enough to pay him 80k) but seller, for whatever reason, only wanted 80K at close and 20K payable 24 months later.

I’ll actually be in Memphis later next week.  

Why not sell them though and take your cash so you can roll it into growth sooner rather than later?

What is your late rent policy?

More importantly, there will be the unknown potential liabilities of the llc and you will be assuming the llc’s Current basis for depreciation, previous depreciation recapture responsibilities and cap gains basis calculations later.

An hour later the selling agent contacted my agent and stated that another offer came in after my bid was accepted, only the new offer didn’t require an inspection as mine included.

FYI:  the main unit is listed as a 3/1, but we found that it is really a 2/1 - the 3rd "bedroom" is technically a den and is a walkthrough to the 2nd bedroom upstairs.As we looked at the property late(r) in the evening, we weren't able to view the exterior/roof of the property very well. 

A week later, sends cancellation with release to liabilities offering refund of EMD in full.As buyers, we were highly motivated, put in lot of time, shopped around to get mortgage LoIs, tons of hours studying the property segments, tax exemptions and credits as claimed in OM by sellers.  

I can't set up appointments for every unmotivated seller call I get, but you also don't know who will come round later.