My company handles this by analyzing returns on a per project basis.

Heating oil is usually handled the way car rental companies handle the gasoline in the tank.

Our real estate "empire" is still pretty small (a duplex and a SFH), but my wife who is a stay-at-home Mom handles the bulk of the management.

There are proper ways to handle this based on size and extent of problem, whether mold is a deadly type, what your location is (for example, in NYC, I would be shaking in my boots.

Pay draws is the proper way to handle it so if your contractor does turn out to be bad, you cut them lose without losing all your cash.

You also may be looking at paying for some transformers etc for the electric company to handle the new load.

If you can handle the apartments - they would be a second choice.

I just hired a contractor to handle all my maintenance so I can focus on growth.

The third party escrow company, either Title or Attorney, will be handling the deal which makes it easier for you and keeps the paperwork clean, in theory.

I have a single member LLC and my understanding is that I would be setting up a separate checking account where I was appointed the trustee and that all income and expenses would flow in and out of this account.Once the checking account/trust is created, how would you handle the financials for the actual 401k plan?