Property 1: 4/3 LTRCurrent Value: $475kPurchase Price: $363kDown payment: $40k (30 year conventional)Interest Rate: 2.75%Remaining Balance: $294kMortgage payment: $2369AVG revenue: $2775Property 2: Duplex - 3/2 House Airbnb & Detached studio apt 12mo leaseCurrent Value: hopefully within $575k-$600kPurchase Price: $591k (appraised at $599k)Down payment: $30k (30 year FHA)Interest Rate: 6.125%Remaining Balance: $552kMortgage payment: $5041 (including $362 PIM)AVG monthly utilities: $385 (full year avg)AVG monthly revenue: $5261 (full year avg airbnb + $1650/month from apt)

Add charges for rent for the remaining months, estimated utilities, estimated cleaning and repairs and cost to re-rent (in our case: cost to PM is 1/2 a month's rent).

I might look into financing options for the property and utilize the HELOC for the down payment.

This would have to be an off grid property as there are no utilities in this area.

On Friday afternoon and over the weekend I did all my due diligence (visible condition, title letter, city violations, outstanding utilities) and everything is pretty clean.

Also is there a way to find out when the house last had utilities on? 

. - Maintenance & Repair: 5% of total rent- Cap ex / utilities: 5% of total rent- Property management: 8~10% of total rent- Misc & reserve: 5% of total rentFull rent: 4800(rent) - 2600(PI) - 800(TI) - 1150(Expense) = $250/mOwner occupied: 3600(rent) - 2600(PI) - 800(TI) - 1150(Expense) = -$950/mOwner occupied & no PM: 3600(rent) - 2600(PI) - 800(TI) - 700(Expense) = -$400/m I thought it would be $0/m if owner occupied although $400/m for myfamily is low enough.

I never commingled any funds because whichever prop it was, I utilized the checking account for each property.  

Keep in mind utilities as well. 

However, this structure is typically utilized by investors who are looking to purchase multiple assets over the years, if you're just starting out a single LLC could also work (you can always scale your legal structures later).