Many tenants, not all of course, like the stability of knowing that they don't have to move all the time, and that rent remains the same.I have rented month to month. 

The building has a first mortgage of about $615kIt should now appraise at about $1.2m So does that mean something like the lender will borrow me say 75% on that new appraised value of $1.2m, say giving me 900k in which I'd payout the first mortgage, leaving me with the remaining balance of $285k which I'd be able to pocket?

The intention was to give them notice now, that effective Oct 1, rents will be increasing to $$ and have them state their intention to remain or leave within 7 days of the notice.

I walked through the unit yesterday and there are still some minor things that remain including a computer and storage bins, pile of tenant B’s mail (looks like all the utilities were in her name (every single light was on too WTF?))

The agreement to assume the debt becomes the liability of the LLC regardless of any personal liability remaining by the original debtor.Now, is a debt assumed and being paid by the LLC a personal benefit to your personal finances?

You will need to come up with the remaining 30% somehow.

Park is in southern Illinois.1M - Asking price 10,000/ month income from Tenant owned homes8500/month income from Park owned homescity sewer, city water, all lots are individual meteredLOTS of dd to remain, but at surface level, its seems pretty good so far.What do you guys think?

The remaining tenants say they'll think about it.

Keep in mind the money remains the property of the father.

Part of what I do in providing pics to my OOS Owners, is generally remain consistent with how I move through the property and take the pics when unit is vacant.