All rental income should be deposited into this account, and all expenses related to the rental property should be paid from it.Accounting Practices: Maintain separate books for my personal finances and the LLC’s finances.

I'd be talking to at least 10 national lenders from biggerpockets and have your land appraised. you better have permits in hand, entitlements. complete, etc. sounds like it's too early to be talking about financing. 

How did you finance this deal?

Not much negotiation this time though.How did you finance this deal?

Financing is also going to be a big part of this as well.

We're hoping to do seller financing when we buy our first rental investment property, so I'll be hand-writing letters to long-time owners of rental properties (mostly single family or small multi-family).

We can look at Market Trends, Rental Demand, Affordability, future development, Financing Options, and Long- Long-term options.

You could also buy a traditional property and hire a property manager, but in this scenario you end up paying property manager fees (and likely higher-than-you-like financing costs to replace the debt from your condos). 

I found an off market deal. A triplex fully rented out that currently generates an income of 3K. Once I fix it up I’m certain I could get up to 4K. The seller has agreed to a purchase price of 250K with 30K down. I ha...

I am considering doing a creative financing agreement whereby I will sell my home to a buyer with a $20k non-refundable purchase option.