Excellent job

Elizabeth,You have an excellent website.

Excellent!

@Jeff Rabinowitz made excellent points.

Our investing strategy will focus on single family homes in excellent school districts (thus far, we have 2 SFH in Keller ISD, and 1 in Northwest ISD- Byron Nelson HS), as well as multi family properties that make sense from a cash flow perspective (We've looked at 2 four plexes, and we're currently evaluating an 8 unit apartment complex).Here are some questions we have for the well informed masses at Bigger Pockets:#1 Do [you] recommend that we set up an LLC for all properties, or a series LLC, delineating each property into separate LLC's "underneath" the main LLC?

This website can be be an excellent source of information.  

The family member has stated that they will be paying the rent to us directly, and they have excellent credit, income and low debt.Any advice on whether I should consider the tenant?

You have some excellent questions, but I feel like I need some more information?

So even though most were on a lease it operated more like a hotel where rent was collected weekly.If you waited until the end of the month the tenant would have spent some or all of the rent money on booze, entertainment, etc.

Here is an excellent link I found that goes into great detail about the land trust.