Once you become an Agent (for the purpose of advertising your services so sellers use you for their listings) you will be ethically bound to act in the Sellers best interest, which means if a motivated Seller comes to you because you are an Agent and your own list of buyers might want to pounce on a deal you find, you HAVE TO directly put that Seller in contact with your buyer, and your fee is ONLY the normal Agent closing fee ie.

On the debt service, I was going to leverage a home equity line for the down payment with a 2.5% interest rate, but for analysis purposes I assumed debt service on the entire asking price at 4%.

If your intention is to distribute an existing IRA, solely for the purpose of purchasing an investment property, consider the alternatives.

The purpose of the LLC would be to still give my Pops minority ownership without full control and make him feel good about still being in "business" with the property.  

On the other hand the benefit of having it in individual LLCs is probably for accounting purposes. 

Can I quitclaim them into my name for loan purposes and then back into the LLC after the loan is processed?

For me the work around has been excel/ google sheets, because I develop all of my spreadsheets from scratch I have a complete understanding of the underlying calculations and I know they are tailored to my purposes.

We purposely keeps rents a bit below the going rate for our area.

That is a big brush that you are painting with.I invest in South Bend, Mishawaka and Granger.I am also on the Board of Directors of our local REIA.Our REIA website is located at http://www.reia-nci.org/ .Our REIA statement of purpose says the following (cut and paste from the website)..."

@J Scott on my single family homes my property mgmt company always gives me final approval - I think I need to do that for tax purposes as well.