They’re used to making monthly rent payments to my LLC name and so would continue to make payments to the same entity, as usual, despite the LLC having changed hands

Maybe I'm wrong in this, but when I look at most opportunities, I ask myself if I could male the debt service payments if the property was 100% vacant.

Warning though:  Dave only recommends purchasing real estate using the 100% cash down payment method.

Our neighborhood has up to 38K down payment assistance programs, so, he had time to prepare for that.

The rent comes in, I pay the payment and leave the rest in the account to build up for payment coverage, those future repairs, and the day when one of the other tenants decides to retire! 

In the Texas Association of Realtors (TAR) promulgated lease, it says "If Landlord does not actually receive a rent payment in the full amount at the designated place of payment by the _______ day of each month at 11:59pm, Tenant will pay Landlord for each late payment...."  

The Mortgagee must obtain a lease agreement of at least one year’s duration after the Mortgage is closed and evidence of the payment of the security deposit or first month’s rent."

I have 60k to make as a down payment.

What type of down payment will you be putting up?

@Michael J.I agree with @Steve Vaughan take the money you can make doing the day JOBThis could be 4 down-payments on cash-flow positive rentals.