Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

I have access to loans at 2%.I have had multiple contractors tell me that my roof will be eligible for an insurance claim due to shingles with storm damage.

You can take him to small claims if it is under 12k.

This allows for 45% of the effective rent to be spent on all your expenses (taxes, insurance, management, common area utilities, etc. - but not your mortgage payment), and gives you the net operating income (NOI).

You can use one EIN for both entities since you're operating under the holding company LLC, or your CPA may advise obtaining a separate EIN for tax purposes.Ensure that the bank adds you as a signer using the company's EIN, not your SSN.

As it is we both have a strong desire to buy a SFH for ourselves but currently house hacking is a better solution because that other rent is paying our taxes and water and sewer bills and for some mid range priced renovations to the property.

Market rents from the appraisal and/or the actual rents need to cover the mortgage payment, property insurance, taxes and HOA (if applicable).4.

When I expressed this to him, he ensured me that if this were to occur, his insurance would cover it in a Summary Claim.

So far, we've pieced along different elements of this (different tax person each year, no LLC to one to now 2 this year, haven't yet used a bookkeeper...)trying to streamline systems and have a solid foundation for our fairly new and growing real estate portfolio. 

We would like to keep the operating revenue and expenses separate from our personal stuff but want to file them along with our personal tax returns.