Is there any advice you guys have and any title companies that would be ideal to work with to make the transaction as smooth as possible? 

Also take note that if you do this your title insurance will become void. 

@Ryan Palyou could hold title and have a simple JV agreement, let me know if you need any help.

I have read mixed reviews online and read some horror stories involving lost titles, sellers dragging their feet and general problems closing. 

He knows the contractors, has the lawyer and title company relationships.Just not sure what do path to go right now...the logical side of my brain says to do another with my friend to continue to learn.  

I received some responses that said I should transfer title out of my LLC and into my personal name.

Multi-family Title Agents6.

It may not apply, or it may have already been covered by the previous title insurance.  

Here, only licensees are allowed access accounts, there are affiliate members like title folks, appraisers and others showing a need. 

You'd have to do a sub2, where title transfers into your name, then after a year of ownership/seasoning you could refi based on appraisal instead of purchase price.