This separation helps in maintaining clear financial records and simplifies tax reporting and financial management.Setting up an escrow account specifically for rental income within your LLC can offer several benefits:Financial Clarity: It separates rent payments from other operational expenses, making it easier to track income and expenses related to the rental property.Legal and Compliance: Helps in demonstrating that rental income is kept distinct from personal or other business funds, which can be important for legal and tax compliance purposes.Tenant Transparency: It provides transparency to tenants and other stakeholders regarding where rental payments are deposited and how they are managed.While it may not be a legal requirement in all cases, maintaining an escrow account specifically for rental income is a prudent practice that many experienced investors and landlords follow.

I think my next few steps will be to build up my team and also practice analyzing deals. 

@Dylan RitchReal estate investing can be a challenging decision, but with a structured approach, educate yourself on different investments, analyze your goals, gain practical experience, network, and plan financially.

I was disappointed too, @Rich Schmidt.Here's one.One of my tenants, who lives on the top floor of a duplex, didn't think there'd be any trouble to overflow her bathtub and practically go swimming in there while water flowed all over the floor.

Begin with one small home to rent out for practice before going for bigger properties.Good luck!

He was suspended for mishandling client funds and disbarred for practicing while suspended.

The list is huge, but includes things like monetary risk, legal differences, government corruption risk, management risk, supply chain issues, insurance practices, utilities, tax differences, banking differences, etc. 

Some state attorney generals may even pursue suits against you for "unfair business practices violations."

Those of us who don't practice real estate in the north or south Lake Tahoe areas, usually are members of Metrolist, which serves lower elevations.

Best practice: hire professionals to handle all the work.