Not really a tax question as the membership % decides who does, gets and deducts what. 

Depreciation Strategies: Am I maximizing depreciation deductions, and should I consider a cost segregation study to accelerate depreciation?

@Jonathan Small For Partner 1 ($72K W-2 income, 2 rentals in an LLC), hiring a CPA is advisable due to the complexities of managing rental property deductions, depreciation schedules, and LLC compliance.

@Adam BartomeoGuys the IRS requires the 1099 amount to be equal to the GROSS amount you collected on behalf of the owner, even if you are collecting water bills, etc. from tenants.NOTHING is deducted from the Gross amount,including your PMC fees!

Or can you still run everything through your personal return (just want to make sure that I can deduct things such as HOA fees which I can do if it is a rental).2) If I do decide to run everything thru my personal tax return (save on LLC fees), should I at the least set up a separate bank account to track costs separately?

Setting rent significantly above FMV could be seen as an attempt to shift income or inflate deductions, leading to potential penalties.

You were supposed to deduct $10k per year in depreciation.

Most things in relation to the rental are deductible - Mortgage Interest, Taxes, Insurance, Repairs, etcIf you are unsure of what is deductible, you may want to consider working with an accountant.

We now live in Arizona and I frequently fly back to the southeast to repair or inspect the properties and already deduct the travel, lodging, and half of the meal expenses from my taxes. 

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