You mainly just want to pass thru the cost, don't up price the tenant for usage/labor cost to read the meters etc. 

I was referring to 123 Main street being on the market.

The main reason you want a separate bank account is that it can provide more protection. 

@David Krulac  not to side track but I think that's what I do best on BP.... most of the railroad easements in our area were owned by logging companies.. and they are recorded rights of way.but your right railroads are about as tough as they come to negotiate with.we have a 160 lot subdivision going and there is a railroad between us and the main road.. you would think easy we just cross it etc..

Assuming it doesn't conflict with your main job, having a second job like this is another way to increase your income.

Mainly because when using an LLC one can still be named as a defendant personally, because its a “pass through” entity.

You need to figure out your community, if there are a lot of growing families, 2 and 3 bed units will be more attractive.

MAIN QUESTION (1 & 2):1) Besides due-diligence...what would your first moves be in establishing yourselves as the new owner (learned not introduce myself as the owner but rather property manager)?

Since I mainly chose JIRA because I was already familiar with it, I didn't really explore alternatives.How do you all keep track of your information, and how has it been working for you?

I am sure someone is going to make a cash offer that is attractive.