I have been working with a wholesale brokerage here in Houston and I am an independent contractor for them and I Dispo all of their deals.

Quote from @Joseph Lawrence: Happy to be a part of this community.  

., we track all the data per each fixed asset in Google Sheets and it's a part of our monthly/yearly processes to input the appropriate adjusting journal entries so the depreciation and amortization are reflected on the financial reports on a monthly basis for each fixed asset.We have a depreciation worksheet, an amortization worksheet, and another worksheet that details all other aspects of each fixed asset (placed in service date, type of property, partners, etc etc) per client.It's nothing fancy but it works for us.

I am a physician in NYC, a friend asked me to help a single mother with two teenage children who ended up on the streets after being evicted in Houston.

If the LLC is solely owned by you, then this may be considered a gift from your sister to you which could be reportable by her, if your sister is a part of the LLC, then this is probably just a property contribution to a partnership owned by you, her and any other members involved in the LLC. 

Houston's Hurricane, Flooding) will stop a project for a long time.3.

Does it make sense to rent my current house out in Poconos, PA so we could rent an apartment in Florida?

Additionally, the owner is considering design plans to convert part of the upstairs into three apartments, adding further value and flexibility.I’d love to hear your thoughts.

I'm slightly worried about flooding and hurricanes (a little ironic considering I currently invest in Houston lol).  

Just a heads up.So you calculated out you need  $6 million worth of apartments to hit your goal.A commercial loan may require 20% to 30% down in cash, cash reserves, working capital, and closing costs.You will also need earnest money cash.The lender may also require certain repairs to be done Shortly after the loan is made.The lender may also require the Property to be stabilized as far as occupancy percentage is concerned, leaving little on the bone as far as sweat equity.Good Luck!