First of all, you'll need all lease agreements, security deposits from the previous owners and whatever else might apply.Then you see how these tenants are doing - according to their lease.If they month by month already, you bring them an addendum about changing the landlord.

If we did a deal like this I would want to use private capital (short term money) complete the rehab and get the rentals rented in 12-18 months and then get a bank portfolio loan.

I have hard money available and *might* have private money.I'm now looking for those who have the resources I don't  - design, contractors, etc. 

What are some little "inexpensive" add-on / upgrades can I do to the home help increase the rent while at the same time giving them the security that I am trying to make this place better for them?

I went to several banks and private lenders before choosing Investor’s Bank.

We have a security camera in the entryway now, so we know she’s not dead or injured or there.

Offer the tenant "cash for keys" (say $500 to start), plus his security deposit, to take a hike. 

Don't waiver on security deposits or when rent should be paid. 

I read quite a bit about Hard Money and Private Money Lenders, as well as the pro's and con's of using them.

My client secured their contract position with a $1000 deposit.