They do go through a process of prequalifying you in a way but it is more property based to get it started.  

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 haven't heard of any landlords making a claim, so have no idea on how easy the process is.   

I am familiar with the rehab process, contractors, tenants, etc...

Buying a condo seems like a huge waste, whereas multi-family gives some cash flow to neutralize my monthly payments.

Not having divided attention will be a huge plus though!

I recently considered switching to KeyCheck but decided to stick with RR for two important reasons: 1) RR allows for weekly rent collection, which is recommended by my real estate attorney, and 2) RR has lower credit card processing fees for tenants.

Recognizing the potential in properties with minimal improvement needs allowed us to streamline this process.

Concurrently there is a huge value-wise as well as strategic realignment happening in almost all commercial sectors and we have yet to see who the long term winners will be.

In process of doing a cash out refi on it now, 1 year later, and it appraised for $400k so I'm recouping my cash now and will build on the lot next door starting next year.