I'll simply be assisting in the sale of the property?

As Chris mentioned, know the individual state laws.

I would not contact banks individually and instead let a broker tell you what you can qualify for and the best interest rates.

In FL, my wife and I turned our individual houses into rentals when we bought a house together that also had a carriage house so we had 3 rentals.

I was just presented with a VERY similar situation @Matt Tobler (grandma is going into assisted living, family is looking to sell -- 60,000 purchase est. value 100,000)I have the cash for the purchase, great credit and income for the subsequent refinance, a team in place to help with a fix and flip exit strategy and also a rental portfolio that is professionally managed for a hold strategy. 

Legal can come later, especially if you are purchasing multifamily as an individual. 

Hey BP, I'm buying my first property using my LLC and Im curious about pulling money out as a company vs an individual.

Jeff A. if feel free to pm or call if I can answer any of your questions, assist or point you in the appropriate direction.

I have knowledge of the basics, however I am Lio for a mentor/partner to assist me.

Happy assist and network.