Anderson, a trusted individual, your corp/llc?

There are also numerous other factors that contribute to the equation as well, such as the market you're interested in or even unexpected malfunctions that you will need to be prepared for financially. 5k is a great start though.

Thanks Nathan, do you have any contacts or info for collection agencies that will take on individual debts?

Ive heard both from numerous different people but would like an opinion from someone more experienced, thanks!

Over time, I’ve been quietly absorbing knowledge from the talented individuals here.

Your approach of setting up separate LLCs for each property under a holding company is a common strategy to limit liability and protect the equity of each property individually.

Just the way I do it but can be done numerous ways.

I've seen this happen numerous times in the past. 

You can treat each unit individually in charge, I would suggest, whatever the market rate dictates.  

Hello Jedd - thanks for the response.The 3 units are currently all supplied by the same line but a plumber is looking into what can be done to isolate each individual unit from that main line.