Of course you can also go the personal route to secure 30 year fixed financing, then transfer into the LLC. 

Wow, that's great that you would like to help your tenants be more financially secure.

They paid the first month's rent, plus a security deposit which is saved in my business checking account which they will get back as long as the apartment is left in serviceable condition.

They dont want their names on the title in 2nd position behind the hard money lender (despite me telling them that will secure their loan), they just want to loan the money to me personally at 12% with a promissory note. 

Don't talk about legal facts and issues on a public forum.

But you might be able to secure other funding to make this deal happen.Business/personal unsecured line of credit.

That way you maintain Attorney Client Privilege without getting to much info about yourself publicly

My employer gave me shares of company stock (company is owned by private equity firm, not publicly traded).

The public has a distaste for that phrase .

Also, maximize the security deposit.