I currently use Quickbooks for accounting but can get tricky when having multiple entities for tax purposes.

An example would be a realtor brokerage that buys a mixed-use house in a downtown area, uses the main area for the brokerage office, and subleases/rents any remaining space to other businesses/tenants.

Early this year I fired all of them on the same day because I was doing the majority of the work, the didn't take training and coaching well, and the main thing was that their CAPACITY was tiny.

So, I think doing something like this would potentially defeat the purpose of having the LLC.

The main worry being that a good deal made today may not be a good deal tomorrow. 

For bookkeeping purposes for our clients, we usually do an 80 (building) / 20 (land) split until we have the correct figures from the county records (it takes some time for those to post sometimes).

The main point is do not step over dollars to save pennies.

My main question is regarding depreciation.  

I reviewed your analysis, and it looks like the main issue is with the points calculation.

If your main focus is cash flow, Cleveland is worth checking as well and look for areas in the west side.