They even said they would let us secure a tenet in there before we owed then the 90 grand.

I love that they are all owned free and clear, that Is true financial security right now.

.), you should require a nonrefundable earnest money deposit.Having the buyer furnish an nonrefundable earnest money deposit secures your position in making a profit.

You should probably open 2, one for expenses and one for security deposits.

Of course you can also go the personal route to secure 30 year fixed financing, then transfer into the LLC. 

Wow, that's great that you would like to help your tenants be more financially secure.

They paid the first month's rent, plus a security deposit which is saved in my business checking account which they will get back as long as the apartment is left in serviceable condition.

They dont want their names on the title in 2nd position behind the hard money lender (despite me telling them that will secure their loan), they just want to loan the money to me personally at 12% with a promissory note. 

But you might be able to secure other funding to make this deal happen.Business/personal unsecured line of credit.

I am putting together a comprehensive package for developers that shows the potential for both commercial retail (since most major grocery stores, restaurants, mall, Hospital, attractions are 12 to 21 miles away (the airport is 6 or 7 miles away) and subdivision as the land has plenty of frontage and is on county water.