I manage over 50 MTRs in the Charlotte market.

First thing is the management company should be working for you.

Hi @Janna Afanasjeva - I am almost positive you just need to keep all the accounts completley separate regardless of business or personal account and it needs to be an interest-bearing trust account (or something similar).FOR SURE @Mark Ainley, @Jared Kott, or @Jason Marcordes could answer that question for you as they are all local property managers.

It simplifies accounting, enhances financial transparency, and supports effective management of your investment property within the LLC structure.Hope this helps!

Or should I open a new LLC that acts as a sort of “property management” that collects the rent from all of my other properties and pays out the expenses?

Back in Washington where we fix & flipped properties I did anything from general contracting from demo to finishing touches, managed project budgets & timelines to stay within our projections and SOW, raised capital for down payment on hard money loans, interest on loans and rehabs, worked with my hands (best at flooring, trim, caulk, cabinets, fences, punch list items) and was the real estate agent for acquiring and selling our flips.

While the property is under renovations, I am searching for a property manager but I have been having a harder time than expected.

Their name is Southern Impression Homes, and they build new and set up property management and are positioned as a turn key investment opportunity.

. - Strict local regulations can also sometimes increase compliance-related maintenance costsCost-saving strategies I've seen help:- Preventative maintenance programs can help reduce overall costs obviously - Some investors report success with in-house maintenance teams for larger portfolios- Energy-efficient upgrades can help reduce utility costs in the long runYour specific costs will depend on factors like the age and condition of your properties, your management style, and the specific neighborhoods you're invested in, but hope this helps!

I’m a Senior in highschool planning to go to college for Business management - real estate minor.