I would highly recommend opening a business checking account and keeping a separate and distinct set of books for your rental. 

These are valuated differently than properties with larger number of units like condos and apartment buildings so there is sometimes a distinction made.Tough to say what his exact point is without reading the book and looking at it in context but that would be my guess.

It had the distinct aroma of snake oil.Am I overly cautious?

Keep the various elements logically distinct when you work the options.1.

The future of your business is on targeting deals upstream by picking up on the scent of distress....long before they trickle downstream and end up on the MLS....where as you already perceive, 3rd parties are going to skew you toward 60k in this example...because they have a fiduciary responsbility to do just that....independent of the trust.Good luck either way and add me to your buyer list once you start cranking up the marketing!

No distinction between the two.

I would suggest use Odoban concentrace (the eucalyptus scent).

Sounds minor but it's a MAJOR legal distinction.

@Brie Schmidt @Mike D'Arrigo Thanks very much, didn't know there was a distinction there between assets and income, and a further variable with whether the property is rented. 

However, I do know that the City has 77 distinct and well-defined Community Areas, not to be confused with the something like 200 Neighborhoods (which vary depending on which neighbor, or RE agent you talk to, or how old they are...).