It's simple enough to make a row for income, and another for expenses, and then subdivide those expenses, and add them up in the total expenses cell and then subtract the gross income from those total expenses to get my net.

Then it sounds like you have your mind made up then right?

I am trusting you have it set up with a service. 

As you are partnering with your sister, have a legal document drawn up as to what happens if one of you wants to sell and the other doesn't, how expenses will be split along with money you are putting down, borrowing, profits, etc. 

Quote from @William Dorrough: I currently either purchase and value add large scale multifamily properties or develop, and build ground up my issue with scaling is we have done this without brining in investors i have a great deal flow with a good track record im really looking to do more i have the capacity but have the need for more capital in one way or another  Scaling without investors can be tough, especially in multifamily.

If so, you open yourself up to a larger pool of candidates.

When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or to refund to the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account that is specifically designated for future investments.

If you had to use insurance for one rental, that would push the premium up on the whole policy, wouldn't it?

If you end up going feel free to reach out. 

Hey Tre,i'm not sure where you work or if you have a preference for location but i have a brokerage buddy who just locked up a househack in Athol.