As the manager of the LLC, you can open a checking account where the funds rolled from your 401k. will land.

As such, I keep them in one account and just track any deductions with a spreadsheet for each tenant. 

Please consider this if you move forward.Additionally, you need to have a broker on payroll in illinois and three separate bank accounts with the security deposit trust account located in illinois.

deposit to account xxx?

It's great because it's integrated with your membership so you can just log in and sign up using your BiggerPockets Account.

@Account Closed You are 100% right.

At that class of property, the delinquencies are not low and have to be properly accounted for.The reason I asked how long you have owned is that it takes a while to recognize the sustained expenses.Obvious is to get rid of the poor tenant. 

But if you have the cash or can pull it from another account or can get a gift for the down payment.

Explain your concerns about the property's flood zone status and see if they are willing to release your deposit or reduce the sale price to account for the potential risks and lower property values associated with it.While $5K isn't a trivial amount, sometimes avoiding a much bigger headache down the road is worth the loss.

Sometimes it is very difficult to reconstruct your depreciation schedule without the help of your prior accountant but still potentially possible.