Changes some of my answer below, but here would be most of the types of transactions you would have in these accounts and between them.Property transactions would be: all property specific rents and expenses, allocated expense transfer to the master LLC and transfers to master LLC bank account for profit AND/OR property management fee.Master LLC transactions would be: Shared expenses going out, reimbursements/transfers from properties for their allocated share of those expenses coming in, the transfers from your properties deemed as profit AND/OR property management fee and then transfers to your personal accounts deemed as owner distributions.Other transfers that could occur is if the master LLC needs to transfer to the properties for capital expenditures above and beyond the reserves you might leave in their accounts.

I have several questions - imagine being able to split up property ownership into tiny pieces or having every transaction out there for everyone to see, all secure and tamper-proof.

In addition, the capital outlay starts long before any income and the detracting of something from the primary structure even if it is just yard space.As indicated, my original protege made a lot of money (over $500k) on a land transaction associated with a large count ADU development.  

But there is nothing like real world transactions to learn for real....and to do that you'd need a Broker and you'd take on all of the overhead costs.

They have literally millions of users and transactions to perfect their processes and features. 

Google Forms are nice to input cash transactions directly into spreadsheet, to get applications from tenants, to ask virtual assistants to enter data.

Otherwise, you should work with a mortgage broker who can shop hundreds of lenders for you to help pick the best lending partner for this transaction! 

I'm recommending apartments.com as my top starter pick because it is the only one I've found that is truly free to both the landlord and the tenant with no fees (monthly or transaction fees) !

Therefore could only do a quit claim deed transaction.

If you have the cash to complete the transaction as is, I would recommend simply paying the balance.