I appreciate your perspective on “appreciating assets” and agree.

I would say most investors would agree that it all comes down to the numbers on the deal and not who you get the deal from really. 

I agree!

Quote from @Chris Seveney: I agree with Bruce, if there was an insurance claim against the property that absolutely should be disclosed.  

I spoke with the title company who is still helping us wrap up the set-up of a servicing company, and she confirmed that they would be responsible for the principal / interest for Nov and Dec, while we are responsible for the escrow shortage balance (as agreed upon).Not sure how it was missed - not my favorite title company to work with.

Hey, Max I agree foundation was one of the last property management we had and your spot about them!

The reason we were able to make the deal work was the seller agreed to take a percentage lump sum up front.

@Brice Alef-TorrisiI agree with @Drew Sygit that you do not need separate checking accounts for each property if the ownership is the same. 

I would agree if we were talking about financial statements, but as I understand it, we are talking about tax basis reports.For tax purposes, one can use a modified cash basis when filing.

Agreed.