@Cathy Leco I don't think there's any need to keep the fee in a separate account, though if you want to designate those fees as your personal "insurance" fund then you may find it useful to do organizationally.  

I found a manager who has been in the biz for years, owns several similar properties, has managed a lot of turnarounds, and has very clear bookkeeping and organizational transparency.

LLCs are required to file Organizational documents and annual reports with the state.

That may be too much for someone without the staff our organizational skills to handle a portfolio like that.

Hello Bigger Pockets World :)I need "big picture" organizational help implementing systems for my business.Here's my business back story:Started an LLC with my Wife and I (50%) and 1 other business partner(50%) in Dec 2012.We own 8 nicer buy and hold rental properties in Wichita, ks that we purchase with HELOCS followed by a 75% refi.

On the other hand, 2 full time jobs and children necessitate being an organizational genius if you want to go the whole sale/rehab route, especially as a beginner.

Hello BP, I am currently building a business model and researching types of organizational structures and their implications to real estate, the question is what business structure do you use and why?

We have come up with current and future organizational structures. business plans.

To be a community association manager, one has to be able to deal with the organizational matters, not just the literal nuts and bolts.Many PM companies "fall into" community association management by accident and don't treat them any differently than they do their traditional PM duties.  

You might want to look into a degree focused on "soft" skills like organizational behavior/management.