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.

Also, maximize the security deposit. 

Hi Guys, I've been told that Milwaukee, WI is  rising as far as a good buy and hold market ( rentals) goes.