For example, could you scale and have the security of modest cashflow (somewhere between 2-5% after all expenses, including CapEX are accounted for), if you put 30% down? 

The tax ramifications of moving the property to an LLC should be discussed with an accountant or tax counselor.

I have the rents coming in from Venmo go into one central account and then transfer them to the proper bank account corresponding to each rental.

Tax Returns: Request copies of the individual's previous years tax returns will confirm there yearly income and account for expenses and liabilities.4.

My accountant got on my nears a few times in the past but now Iḿ on a quest for a new one.

Set expectations up front and keep them accountable throughout.

Brandon,Credit score? 

What I'm trying to say is that I recommed giving us more details or if you don't want to put personal info on the internet find a in-person tax professional or accountant who is familiar with rental property taxation to determine your eligibility for deducting rental losses and ensure that you're compliant with tax regulations.

I assume, I will have to open business accounts and use those to manage my business expenses and business earnings etc. 

We have excellent credit and can quite easily qualify for a mortgage.2.