For example, most picture a construct where each property is individually defined, with separate land and structure being owned by individual owners, that than there is a Home Owners Association to govern, comprised of a board who has been elected into positions of governing, and most often who hire a property management firm to complete the day to day operational duties.

I enjoy investing in the Stock market as well, but my plan is to keep my Real Estate assets separate from my personal assets.Do people generally keep it in a Savings account for years?

So you want to convey your interest in the property to your LLC and your family member wants to convey their interest to a separate trust?

What Ido is have a separate bank account (non interest bearing) where all my security deposit funds go..... 

There are a couple on the forum.Your profile also mentions that you have an entity "WNY Property Group", depending on how this entity is structured, you may have a separate filing obligation.Best of luck.

I’ve purchased three separate books written by Brandon Turner, halfway through my first one, I will finish it within a couple of days, besides his books, does anyone recommend any books in this genre? 

for the sake of analysis I used $250/month for water and $700/ annually for insurance.Since the water is not separately metered, can I charge the tenants a small fee for water?

They are selling 3 separate parcels.

That is because even if you own 100% of an LLC, for example, you and the LLC are two separate legal "people." 

Got pre-approved with a few lendersEstablished bank account specifically for real estate (Separated personal funds from business funds)Established LLC- I used the LLC to manage the property- Funded the LLC then future Payments from my tenants went to the LLCEstablished relationship w/ Real Estate AttorneysEstablished my own ROI goalsStart making offer