If expenses  increase, guess what?

EXPENSES AND CASH FLOW:Upon complete reimbursement of Party 1's invested capital, both parties shall equally split all expenses and cash flow related to the properties.5.

Read and familiarize yourself with these:Residential Rental PropertyBusiness ExpensesBusiness Use of your HomeTravel, Gift, and Car ExpensesSchedule E InstructionsPrimarily focus on "Residential Rental Property", "Business Expenses" and "Schedule E Instructions".

Thank you yes Im going to have to consult someone because it's too overwhelming for me and making the wrong decisions could cost me thousands (or 100's of thousands of dollars if were talking long term)

I would reexamine your transactions as there is probably more expenses available to you that can reduce your taxes.

Defining the criteria of a buy box also helps investors avoid being overwhelmed by an abundance of real estate opportunities.

This is a home that my family wants to live in, so we are okay with the repairs being more expensive then what would make sense for a property that is purely an investment property.

Im just outside of chicago and in the suburbs and condos are not that expensive and i could make ok cashfflow from one.

The issues are the nontransparency and expense of doing that. 

For your five rentals, you can have a separate "personal" checking  account (or several) that will be separate from your personal checking you use for your own living expenses.