You can stack your personal 50%s up for separate ventures while still knocking out deals without your own capital2) Read Raising Private Capital by Matt Faircloth3) One LLC with the S Corp designation to pay yourself a reasonable salary from the flip profits.

Electric is metered separately from the utility. 

I don't think you are going to be able to get insurance for two separate living units in a single-family when they are both illegal and likely do not have the correct egress windows (basement) for fire safety which could subject you to huge liability if something happens to either party.

What separates the 2%...... 

This is true whether those clients were on the optional recordkeeping program or not.I don't have a lot of details and am not personally involved in this program in any way, but I have experience with SEPiraK separately and they are a quality operation.You can reach out to info at sepirak dot com to learn more. 

If I buy out the first lender, can I foreclose with the total amount due for both loans combined, or will it remain as two separate loans, with only one being foreclosable?

As a general rule, each entity that files a separate tax return (partnership, s-corp, c-corp, etc) will need its own QBO subscription.

I also have separate damage protection from my channel manager (OR), but you can get it from Waivo and some others. ive just heard too many horror stories and i bake the price of coverage into my rental costs.

My fiance has orders to San Diego, and I will be separating and moving with her.

With Plus, you can use Classes to separate properties and accurately track income and expenses by unit.