If you want the property ask the borrower for a deed in lieu of foreclosure, then you will own it, the incentive for them to do that is that you can not seek any damages or amounts due from them, you accept the property, subject to any liens, as full  payment of the debt created. 

In addition,  if I later decided to rent apartments as a Landlord, I might also want to seek the protection of an LLC, along with the additional Insurance Expense.

I looked and couldn't find any posts about this, but I play a game called 'Capital City' which is pretty much an iOS cashflow game by Rich Dad. Pretty cool. Better then playing 2048 for sure.

You can find me there a...

The point of creating a list is to narrow down to the opportunities which best meet the criteria you seek.

If you've got enough capital, focusing the slightly harder to finance side of the market (5 units or more) may give you an edge when seeking greater yields to guarantee your retirement income.

You should seek an attorney's opinion that is specific to you situation.

I am just trying to get my head around all the different players.

After reading a bunch of articles in the forums, I must say that I am very impressed with the other members on this site and their willingness to help each other.I am currently seeking advice on running some numbers on my property.  

We understand this this a blog community and we are not seeking any legal advice here but if there are legal experts that can offer opinions it will be greatly appreciated.

Yes, I am seeking legal advice on this now.