This is all to show to a Court and a savvy plaintiff attorney (when you get sued) that your business activities follow corporate formalities and they are separate from you as an individual. 

We would like any tips, tricks, do's and don'ts for those that also rental out individual rooms in houses.

Numeric key pad!

Complete a rental verification, but it should not be from any family member or an individual, request there last apartment, or property management company as a rental verification.

Find a property, develop it, live in it, rent it out and then repeat.Another approach, which I believe may have already been mentioned is to find a mixed use property in lieu of just focusing on a 3plexAnother approach is to find something near one of the universities and run your rental analysis as if you are renting by the room at dorm like prices in lieu of renting each unit individually. 

It's got a huge number of wealthy individuals and businesses there and I don't see that changing.

You could be looking at 8-12 subs that you will need to individually contract and negotitate with. 

Now, I believe the right legal CYA move is to have one LLC for each individual property, but personally, I don't want to keep up with the bookkeeping on that! 

I've done some rehabs to make it livable, but I'm finding it a bit challenging to rent out as a 6 bed, 2.5 bath house, whether as a whole or by renting out individual rooms.

While I understand that, my understanding and what our own attorney has confirmed, is that there should be an individual who serves as the guarantor in this type of instance.