I operate 14 properties from the same checking account.

My motto, "Honesty, Integrity, and Accountability," has always been my guiding principle—not just in business, but in my personal life as well.

How would this be accounted for for general accounting and taxes?  

Quote from @Account Closed: For someone rebuilding their real estate business and looking to transition into larger multifamily deals, what’s the most effective way to position yourself as a valuable partner in syndications—especially when capital is limited but market knowledge, deal-finding ability, and local expertise are strengths?

I will say, short term rentals require a bit more work, and if you are moving out of state, you may want to take a look into getting a property manager ( take that cost into account when running the numbers ).I hope that helps, reach out if you have any more questions. 

I understand that I need to account for taxes, insurance, and other costs—Should I go with a LML and then do a refi later on?  

I’ve got her dealing with 8 properties which have individual accounts.

However I like to run my numbers conservatively and account for cap ex, vacancy, maintenance reserves 10/5-7/5-7% respectively.

@Albert Gallucci as many have pointed out, in the commercial space of 100+ apartment buildings and offices, property classes have some pretty decent industry standards.We started applying these to 1-4 unit properties around 10 years ago, which you can verify on our blogs, because we saw too many newbie investors not properly taking into account things like, neighborhood status, tenant pool, property condition, etc.Unfortunately, there's no industry standard for this, but you can use some basic logic to think your way through your own Classifications.

There are several other issues (undisclosed maintenance markup fees, excessive charges to our account, significant reductions to agreed rent without communication, etc).