Changes some of my answer below, but here would be most of the types of transactions you would have in these accounts and between them.Property transactions would be: all property specific rents and expenses, allocated expense transfer to the master LLC and transfers to master LLC bank account for profit AND/OR property management fee.Master LLC transactions would be: Shared expenses going out, reimbursements/transfers from properties for their allocated share of those expenses coming in, the transfers from your properties deemed as profit AND/OR property management fee and then transfers to your personal accounts deemed as owner distributions.Other transfers that could occur is if the master LLC needs to transfer to the properties for capital expenditures above and beyond the reserves you might leave in their accounts.

Transitioning to full-time real estate involves strategies to scale your portfolio and grow capital.

Access to capital at reasonable rates IE from a Bank not a HML or PML this is also a big deal  HML / PML is generally 14 to 18% apr on your projects..

@Greg Hammond If you decide the property is no longer worth holding on to and you decide to sell, in addition to the capital gains you want to consider depreciation recapture as well as any closing costs and commissions.

This investment was financed through a combination of Partner Driven capital and support from our partner Ron Rowan.

But IF the property in question is in compliance with all code, and provides a safe and secure environment, all problems are timely addressed and corrected, and the property is maintained on a professional level, then the investor who has a large capital investment in the property should be entitled to enforce any contracts providing him with the agreed to cash flow. 

Oftentimes people get confused whether they should capitalize a purchase or expense it.

Owner’s draws aren’t typically taxed directly, but any gain or capital distribution may have tax implications, especially if the amount withdrawn exceeds your basis in the LLC.4.

So yes, more like a subject to where I am just picking up his payment.I have already househacked a rental I still hold, so worst-case scenario I would pull a line of credit or bring in an equity partner if more capital was needed. 

Will or does it need any capital improvements such as a roof?