Typically, I run a current income/expense column next to a ProForma column to show potential value add opporunties.I agree with @Robert. 

If your new LLC is a disregarded entity (single-member or owned solely by you and your spouse in a community property state), it won’t trigger a taxable event, and you’ll continue reporting income on your personal return.

If the properties are split into more than one LLC, then each LLC will need its own accounts.Checking: collect all income here, then use it to pay bills.

I would not offer furnished rentals in lower income areas. 

The majority of my income comes from my rental portfolio.

Throughout the year I come across situations where people need to sell there home due to a variety or reasons, job loss, income loss, health, divorce, etc.

If we had hundreds of loans out, we’d have enough monthly income to aggregate the payments into additional loans—but we don’t.If you do this, your note will have to have a compounding clause in it, provided by your lending attorney.

If you’re holding onto tasks that someone else could do better, faster, and cheaper, you’re limiting your income potential.Discussion: What’s One Area of Your Real Estate Business You Need to Let Go of?

Syndicated deals can be opaque, with high fees and limited control for passive investors.

Depending on your debt to income, you might have to sell or have an executed lease to secure financing to buy the second home.