The time and energy and money and resources you use to buy a BRRRR primary home you can find 2 properties to buy.I would suggest exploring...at least EXPLORE it first...buying a primary home with a normal loan, ask about "first time home buyer" programs, and if you do find a good property then BRRRR that one separately.  

I don't believe there's a way I can bifurcate only the ADU into an LLC as the entire property is one single family home property for legal purposes, even though the ADU has a separate address for mail purposes.

I would manage myself most likely, and there are not separate meters so the last owner was doing an all bills paid gig. 

I want to acquire more properties and be more involve in real estate investments, I know about the parent/child LLC structure, but can I have a sole proprietorship as a parent and have separate LLCs for each rental? 

I am looking hard for a 2-4 unit property at the moment nearby in Ventura, but am pretty adamant that the units feel very much like separate homes for that very reason (e.g. separate structures, separate driveways, separate yards, etc). 

What I'm wondering now is, should we have set up a shared bank account or should we have set up separate business bank accounts that are dedicated only to the business and just split costs 50/50.

- Do you have a separate person inspecting each clean?

Open up a separate personal checking account for the property and personal savings account for the security deposits.

Typically in a syndication, if the GP and LP are separate LLC's, then the LP will hold title to the asset.

This is where you take a split-level home or a home with a walk-out basement and put up a wall and a kitchen/kitchenette in the basement to create two separate units.