Hey @Krissi Miramontes Small world, I have a former client in Fair Oaks, or at least her business is there.

So it sounds correct to collect all amounts into my business account then and send a 1099 to the owner reflecting what they received minus the PM fee?

The founder appears to have been involved in businesses outside of real estate: ‘My dream is a locally made grooming products business’ | People | nashvillepost.comSo it does not appear there is a lot of track record there, but those are questions I would ask.

As good as offsetting all his W-2 / Business income?

All contractors (no matter the trade) are businesses, and should be run as such.

I only pay for BP leads and all other business comes from my sphere/referrals. 

But it is my opinion you should try Airbnb, VRBO, booking.com and FlipKey and give it a chance to see if it is adding business.

When the whole covid shutdown occurred, I dropped out of college to help my father's service business maintaining and remodeling residential and commercial buildings.

Now, if you've already set up LLCs per property, then yes, have at least 1 checking account per LLC.For people who own their properties personally, keep personal accounts that are exclusive to RE activities so all of that activity stays separate from other personal transactions.

@Michael Quarles I can honestly say that I've never gotten any solid business from postcards.