Most of what they recommend only makes sense from an operational standpoint if you are a larger investor and have a team to help you manage everything.Also, ensure your REI-savvy tax pro and your REI-savvy attorney link up during the entity structure creation process so things are optimal on all sides.Just something to keep in mind as you're beginning this journey.Answering your question, you'll want a checking account (minimum) per subsidiary entity and for your parent entity.

I grew up learning maintenance on properties my parents and grandparents had in Akron, then started buying my own after college.  35 years later, been full time for the last five years or so.  

Since living here I’ve put in a new HVAC in both units and kitchen into one unit, I’ve max out my credit card, and have had my parents help me.

They are excellent renters so there's no reason to deny their request and (as a former foster parent that has adopted three children) I would do everything I could to support them.3.

If you don't drive yet, bring your parent(s).

Went through eviction proceeds and had to deal with parents complaining about why it was ok that their kids did not pay rent.... 

Essentially you create a parent LLC with each property in it's own secondary or child LLC.

Would you have your parents take a second lien against their current home to do the deal or your grandparents?

They are just like you: working jobs, parents, side hustling, wearing sandals, and driving a Prius.

If you can find a partner invested in your success—whether it’s a significant other, a parent, or even the BiggerPockets community—it can make all the difference.