If you use a good property management software, you can manage multiple properties very easily by allocating expenses into each property's financial statement or tax document. 

Tip 3: diversify your loans best  you can across asset classes you are most comfortable with and have a balanced allocation to help mitigate future market fluctuations.

Things to consider, I will be house hacking the deal living in a unit for at least a year & even though I have allocated 10% for Property management fees I will be the PM for the meantime.  

I currently have newer investors, who I feel, are over allocating expenses for single family rentals (typically 3 bed, 1 bath, no central AC units) to the point where it is becoming impossible to find them a deal that cash flow when they run their numbers.I'm curious to gather the opinions and formulas to start introducing alternative calculations from seasoned investors for typical expenses like insurance, mortgage, maintenance, capex (if that is not already included in maintenance), property management, etc. 

I believe SEO to be the dominant strategy but any good marketing mix will have a portion allocated to performance based advertising.Good luck to all and reach out with any questions.

Whatever is allocated to you on your K-1 is what you have to go by.

Mortgage interest and real estate taxes as it relates to the personal residence may be benefit you as an itemized deduction.You must allocate the items based on some reasonable methodology whether it be based on square footage or amount of rooms.

I would allocate some money to each strategy and see which one performs best.

I can't imagine how you allocate common property expenses between tenants.

We get an occasional complaint about other tenant's water usage but we basically indicate the water bill allocation was advertised when they committed to the lease and has not changed.