Tax strategy for multiple properties owner ..

[LEONID ORLOV]

I own 6 multi-family properties (3-4 units each) all are positive cash flow, I am wondering what is the better approach ?
1. To allocate income/expense to each property on Sch E (as I have done so far) or
2. To declare a property management business on Sch C and deduct common for all properties expenses such as car, management etc and to allocate individual property expenses/income to sch E for each property?

Another I idea I was toying with, is to pay property management fees to one-self (I manage properties myself) which can be (to a large degree) allocated to a solo 401k (because this is the part of business that qualify you as Solo proprietor)

Let me know if I am dreaming here .. or being terminally confused