I opened a business checking account with Regions.

I would also be sure to sweep the chimney and have it inspected before you rent it out then annually.  

Also, check if they have skin in the game (their own money invested), as it shows they’re confident in the deal and aligned with your interests.If you’re considering alternatives, REITs are fantastic for super-passive investors who want steady, low-effort returns—usually about 2 points above a savings account—but you lose tax benefits and control.

I recommend finding a real estate and business accountant to help you with filing your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

I would definitely ask your accountant before making any changes or opening an LLC.

You will get away from income taxes and annual registration fees by going to the townships, but your property taxes skyrocket which may offset some of the rent increases.

@Eric Chappell - just started a trial to check on rentalhero and it's not a complete accounting system.

., and in your analysis account for slightly higher PM fees.  

Another thing that my brain keeps milling on is the fact that if in a normally purchased deal, I work hard and pay off a 3 million dollar building in 20 years, and then don't pay my 80k annual property tax, I'm going to lose my 3M building that I "own" but somehow don't really actually own.

Gross profit is interesting because it appears to just be the difference in his acquisition and sales price and fails to take into account the other obvious cost of running that business which includes, again according to him, the cost of over 26,000 letter print, mail, post, and the cost of the lists needed to create a mailer of that size.