My LLC is registered via a 3rd party and my name is not anywhere on the articles of incorporation (as I am trying to keep some privacy but also have that wall between tenants).With this being said, after you transfer your LLCs from your personal name to an LLC, I understand you cannot change the terms of the existing tenants lease, however, is there some sort of short and simple communication I can give the tenants letting them know that the home has transferred ownership and that their lease agreement held up and house under XYZ LLC? 

A regular IRA at Fidelity or Schwab is just simple - put your money in, choose your fund, and forget about it.To your "in case they decide to do real estate later" question.

In summary, I don't think you pick between a Mortgage or Promissory note, and the Promissory note allows you to avoid mortgage lending guidelines. 

Now I was looking through some of my hand picked properties yesterday, and saw a beautiful 1920's colonial that needs professional restoration, at a great price, where I think a flip is the best way to go.

This is all we have.Am I missing something more simple and obvious? 

Indianapolis & Philadelphia have properties ripe for the picking right now for rentals, and appreciation in those areas may be substantial in the near future.Good luck

I knew the building and immediately picked it up.

Is there any other way to go around this or do I have to pick up a second part time job just to look good to the underwriter?

Having said that, your gut feeling may have picked up something subconsciously and a lot of the time that little voice is right (see Malcolm Gladwell's Book - Blink). 

There is a rural property in the Kansas City area that I have an interest in wanting to buy, and I’d like to pick you all’s creative minds to help find a way obtain it with the lowest risk possible.