@Brian GonsalvesYou first want to have a conversation with your parents to see if they are on the same game plan of transfering title to you.The downside of transfering title to you now is that you get transfer basis and don't get a step-up at a later point.Are your parents expecting the income from the rentals to fund their retirement?

If you have a premium ultimate rewards card you can transfer these points to that UR account which effectively doubles their value (similar to the AMEX membership rewards points) so it's almost like you're earning 10% in those utility categories and 2% on everything else.IMO the flexibility of membership rewards and Chase Ultimate rewards far outweighs actual cash back because with a little bit of effort you can get a lot more back in redemption. 

A quit claim can transfer a part or all of the property to a new owner... so in theory the LLC could retain 2/3, and you could receive 1/3.  

In this case, we are referring to learning, knowledge transfer on-the-job performance, etc. as business results. 

As far as the other deposit, there should be no problems transferring it to the new PM, and the new PM can probably help you contact whatever state agency monitors those transactions as states usually are very critical about how security deposits are handled, so you'll probably have plenty of backup if he tries to keep your other deposit.   

We rented it out when we were transferred.

If I use a Residential loan it helps with the cashflow issue but I can not buy with my LLC & then must pay a 4% transfer tax afterwards to transfer into the LLC.

We got started in buy and hold by turning personals into rentals when we were transferred.

@James Wise is correct that the lease agreement transfers to you at the closing of your purchase.

Which would net me a loss of about 200 dollars a month.Or I could sell the property and basically after realtor costs and prepayment penalty I'd be pretty close to breaking even after spending 10,000$ on a downpayment last year.I am actually moving back home with family so I will not be paying rent and I can handle paying a 200$ loss for the time being but I was thinking I will keep my eye out for a Rental Investment Property down home and when I see one I can "transfer or port the mortgage".