@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

Is it fair that the county can raise property taxes due to a strong market?

Technically it would be best to get a C Corporate or S Corp. to flip properties and since you are considered a dealer if you do several properties a year and this could have negative tax consequences in an LLC.

The interest would be tax deductible due to interest tracing rules. 

From tax stand point I would think you can separate from primary and be okay with IRS being that IRS will not be local code enforcement.  

When I DM'd you, asking if you would put my mind at rest by simply confirming you own the asset, your response was, "I don't owe her a response about anything on my website nor do I have to prove anything lol". 

You are looking at the rent of $2,000 and mortgage (Loan, Insurance, and Taxes) of $18000 and thinking you have $200 cash-flow.

Keep in mind taxes go up as do rents.

It was bought in 2004 and due to financial issues, I believe ~$197k is still owed on the mortgage.

So, when Trump changes to no tax on tips I feel inclined to change my rental income structure.50% reduction in rent.Previous 50% made up from a mandatory nontaxable tip.