You need to tie up a property with a purchase contract and an Earnest Money Deposit (EMD) and find an investor to put up the money for the deal. 

(I ask this because my current tenants pay me by only TWO methods that are SAFE for me--electronically/online or direct deposit in a special bank account)--are appliances tenants or owner's?

I normally charge two months deposit for tenants with bad credits, but they told me they can't fork up so much money at this time.  

Like @Joe Fairless I use rentlinx, and I also use postlets.comI get a lot of referrals from existing tenants also.I'm pretty specific in the ads about application fees, deposits and background checks.

@Matthew Do you have to put the initial funds up for the construction companies or do you they take some sort of a deposit?

If we can't, then onto the next step.Second we must attempt to hand deliver the notice to each tenant by handing the notice to a person of suitable age and discretion at the tenant's residence, AND deposit a true copy in the U.S.Mail, in a sealed envelope with postage fully prepaid, addressed to the tenant(s) at his/her place of residence on the same date.  

Will have both fill out new leases. they are asking me about deposits and if they will get them back.

Ask the current owner about security deposits & taxes, that will also be a huge savings on the cash you have to bring to closing.

(I have a $1000 deposit)Thanks in advance :)

If you want the rent, they get the apartment.You might consider working a deal on a rent discount in exchange for their cooperation, or guarantee the return of their security deposit.