If I have a tenant move in mid month I always collect a full first month's rent at move in (along with the security deposit).

The question, I  am trying to resolve is moving the property (albeit an investment property) from one owner to a multi-member LLC as it opens up the ownership to multiple people who were not part of the original loan package.  

Aside from that, they're usually much safer than an apartment and offer more security.

I have a good paying, secure job making 6 figures and I don't spend much money.

If you live in Sandy and have a duplex in Midvale its easier than having 2 single family houses in different locations say Cottonwood Heights and West Jordan.The final part I would bring up is Multifamily units will be easier to be used for portfolio loans in the later games because it meets the physical definition of packaged real estate.

Attractive multifamily acquisitions will be captured by buyers who secure assets that are “right priced” to account for rising interest rates."

tell everybody what you do and ask them if they know anybody who would like to earn 8-10% on their money flly secured by real estate for a short time. 

(A recorded trustee's deed (or similar alternative) confirming the amount paid by the grantee to trustee may be substituted for a settlement statement if a settlement statement was not provided to the purchaser at time of sale.)The preliminary title search or report must confirm that there are no existing liens on the subject property.The sources of funds for the purchase transaction are documented (such as bank statements, personal loan documents, or a HELOC on another property).If the source of funds used to acquire the property was an unsecured loan or a loan secured by an asset other than the subject property (such as a HELOC secured by another property), the settlement statement for the refinance transaction must reflect that all cash-out proceeds be used to pay off or pay down, as applicable, the loan used to purchase the property.

The concern we had is he did not pay a security deposit when he moved in 3 yrs prior.

@Mark Skaff Here are the basic tools and resources you need to get you started:Listing Platforms:Realnex.com - I useCostar.com - I useCatalyst.com - I useBrevitas,com - I useCrexi.com - I useLoopnet.com - I do not useCRM, customer relationship management options, you only need one:Realnex - I useClientlookApto - SalesforceDigsyMarketing package creator, you only need one:Buildout - I useRealnex - I useMicrosoft PublisherAdobe InDesignMarket and financial analysis - advanced tool:STBD - Site-To-Do-Business (Demographic and Psychographic) - I useCostar.com - Rent and sold comp and market analysis data - I useThe Analyst Pro - Online Financial Analysis toolHP10bii calculatorFuel.com - financial analysis toolRPR Commercial - I useNot all these are mandatory and there are many more that compete with the above, these are ones I've used in the past or currently using now.The key is that you have a listing platform outside the MLS, a CRM to track you contacts, clients, properties and deals, a way to create a stunning marketing package, and market and financial analysis tools.