So, I am investigating a way to form a LLC under the BORSA C-corp to do business.  

Investigating title is key. 

Depending how it is wired separating the units electrical may be difficult and would take some investigating to see how.

I would investigate other suitable options.

I thought that once they ran the preliminary title that I would have to stay with them because they have already done the majority of the work.

@Evan Kraus you should definitely investigate the Solo 401k route!

This is all very preliminary and haven't yet approached family because I believe they still want to have some involvement and thinking through how best to position this to make a deal happen. 

I currently live in the Dallas area and have done my preliminary research to identify it as an area with strong long term growth potential, growing population etc.

This sounds like something I need to investigate for sure.

I think I would put my Tenant hat on and walk in their shoes to investigate how you would be able to make it work.