While always having at least 6 months of expenses for each property in an emergency fund that maybe is invested in mutual funds or something liquid. 

I received wrong information from people in the Portugal RE industry before so I'm not super confident the person I talked to is correct I'm just trying to get more data points.In case it's useful for others these are some other bits of info I've learnedRefinancing is possible but it is more expensive than conventional (usually the spread is 1-2% higher) and it is necessary to explain to the bank what will be done with the money.It is not necessary to wait to own the property for a certain time to obtain mortgage credit.

If latter, it would end up more expensive because if B&O taxes as well.I am wondering if anyone else here has gone thru this journey and can help with some of these basic bootstrapping questions. 

All expenses would go on each account and it made year end accounting very easy.Ally alerted us that they are closing our accounts due to our failure to "properly secure" our accounts.

They have told me that to go past the first level of fighting your taxes, to the appeals part of the process, you need to have an attorney but that it gets expensive quickly.

Horrible idea for many reasons...1) Without a decent down payment ~20%, it's very unlikely you'll cashflow after all expenses 2) Sounds like this would be a highly leveraged property - high leverage when rates are high is a dangerous game to play.

The LLC also gives you the ability to write off expenses associated with the property that you could not do as a personally owned house.My 2 cents would be to leave it the way it is and not transfer it.  

Falling in love with a property costing you $10K a month is an expensive romance.

That’s expensive and time consuming. 

I know certain things like insurance, etc. can't be deducted.Are there are big missteps I should make sure I'm not making in my assumptions/landmines I shouldn't step on to make sure I can deduct these expenses and receive the right rebates in my tax returns at the end of the year?