The property is paid for by cash (clear title under LLC name) and has been generating healthy cash flows.

I do i have pictures videos, garbage,theft, and vandalism just to name a few.

We want to refinance it into a long term loan in his name and cash out the partnership for this deal.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Alternatively, can I just setup a DBA or assumed name for the LLC itself and use that?

Hi all,My name is Yannik and I am new to BiggerPockets.

The biggest concern are the tenants. 

Hello Everyone,My name is Adam Gleason.

Hello, my name is Jordan, i'm a student as of now but i'm on here to learn more about real estate investing and hopefully make valuable connections with experienced investors. 

Just because you don't have a loan in your name doesn't mean you don't have an obligation to pay a debt.