I already have a corporate name which I intend to place the offer in.  

NON-RECOURSE OBLIGATIONS Note Holder agrees that for payment of this Note it will look solely to the Pledged Collateral or such other collateral, if any, it may now or hereafter be given to secure the payment of this Note, and no other assets of Borrower shall be subject to levy, execution or other enforcement procedure for the satisfaction of the remedies of Note Holder, or for any payment required to be made under this Note.

I doubt you are under any legal obligation to do much the way you describe it. 

This way I would be able to have a solid foundation to return to the corporate world. 

You are under no obligation to tell any of the other applicants why they did not get the place unless it was based solely upon their credit score/history.  

Condo rental often face a lot of competitions from big corporate apartment complexes where things are done for cheaper and the amenities are way better.

"Team Building" sounds so corporate, huh?  

I was looking at it from the stand point of, hopefully the lease didn't put you in a position where you were obligated for 2:00 a.m. calls -- so in this case it would be what the lease doesn't say that helps.  

My 2 children are  minority members (15% each)  and since they are very young (19 and 23) my husband and I  would not like for them to have this obligation.

One requirement of the license is that an elected officer must be a broker (see below from the website).If you apply as a corporation, you must have at least one elected officer who is individually licensed to act as the primary broker for the corporation.If you apply as a partnership, you must have at least one partner individually licensed to act as the primary broker for the partnership.If you apply as another type of business entity (e.g.