Thanks @Michael BaumEven with 65 properties and 8 years in, owner payouts is still cumbersome.We use Streamline PMS (also Trust reporting in a non mandatory state). 

Also, are there any accounting features such as bein able to pull leasing reports?

One had an eviction on their record 5 years ago and the other has nothing bad on their report. 

Holding back money to pay a future current operating expense would be reported on that years tax return. 

Based on last year's tax report, the house is valued at $199,000.

While corporations must adhere to annual meetings, board of directors, minutes, bylaws, corporate officers, and franchise tax filings/public information reports, LLC’s have only Articles of Organization and Operating Agreement.  

Automation of Property Management: Say goodbye to the days of tenants texting and calling you at all hours of the day to report a maintenance issue.

None, if you report things correctly.4) Any tips or tricks you can pass along with this method? 

Also you guys should know, business credit utilization does not report on your personal credit!

A title report would be necessary to confirm whether or not there is anything preventing a current sale by the owner of record.