Since its a multifamily, do we need a separate inspection for each unit or does it just go off of square footage? 

I will have a separate bank account for the LLC, and I have separate accounts for the rent, security deposits and cash to pay for expenses for the property.

If we remodel the basement we would rent it out as a separate Airbnb.

Use a separate checking account for the property.

i just posted this question on a separate thread and wondering if you might have some insight..i have some money through my 457b contributions, a portion of which are in a roth ira. if the math checks out on a property (perhaps a multifam i can house hack), i think i can do better investing my roth ira into a buy/hold real estate. have you come across scenarios where investors found some loopholes with the least penalties or tax impact on such a strategy?

Our properties: (I have listed what the two properties are, as well as some financial information in this section.)Our goal is to ultimately title the properties under separate LLCs.

I might PM you separately since it sounds like you're super familiar with the area.

I am curious if it is possible to get an FHA loan for a 4 unit deal that is separate properties. 

@Michael Plante no I pay my insurance and taxes separate every year.

The landlord tenant relationship is a business relationship and when you live with your tenants it is much harder to make that separation.