That would result in both a transfer of cash and associated journal entries.If my LLC doesn't have a bank account and I've been tracking its assets in my accounting ledgers only, moving money for the sake of moving money would seem strange (and suspicious). 

While this is a great and highly motivating goal, most people are either clueless or incorrect in their belief as to what is required to obtain this “lifestyle”.Understanding of the “how to” get there is further obscured by the misleading, and often patently false “pathways” sold by real estate educational MARKETING companies as workshops, upsold to association memberships, upsold to mentorships.

Additionally, I understand the risks associated with obtaining hard cash and working with hard money lenders, including higher interest rates due to the short term nature of the loan as well as the risk involved.

I would also add that you join your local REIA chapter (Real Estate Investor Association) as it will allow you to network with other STR owners and get more location-specific information. 

For residential multifamily properties (1 - 4 units), can you use a home warranty to take care of the repair costs associated with rentals?

Any investing usually has a level of risk associated so you want to make sure you know exactly what that is when it comes to the flint market. 

@Patricia Steiner As it is a condo I would think you could try to get the Association to do external pest control.

I know building a reliable local network will be key, so I'm hoping to connect with experienced real estate team in the area.The military presence in Jacksonville catches my eye, and I'm particularly interested in properties that might appeal to military personnel and the associated contractors.

However, I was unsure whether I needed to open a new bank to manage the finances associated with the property.

Cost of Borrowing: Compare the interest rates and fees associated with a HELOC or cash-out refinance to the hard money loans you’ve been using.