The banks will require proof.

It's the best way to test what you like and don't like in a low risk environment.Once you've done this, you'll probably have even more saved up and experience to make you more confident in choosing a direction.If you decide to just dive into one of these markets and strategies, I'd recommend focusing on your personality, goals (cash flow first or something else) and how much time you have.

So, answer the first two questions and I will try to give you straight to a point answer, with no judgment or meddling in your personal affairs. 

You can set up rent collection, and create unlimited bank accounts to keep your funds organized.

The study identifies with forensic engineering detail the immediate Bonus Depreciation 5, 7 and 15-year personal property class lives qualifying portions of a building that are normally buried in 27.5 year residential or 39 year commercial categories.

Personally, I'd run the business knowing capital will be TRAPPED in these rentals, and rates won't drop much in the next 4 years.

I personally don't see an advantage in requiring it.

The LLC will need a bank account and the financial institution setting up your account, in NC, will need to see SOS filings.

Saw something here on BP as well: Ep. 293 Are You a Fearful or Faithful “What If” Person?

I always got a DP3 policy (ask your broker) with $500K liability on my rentals, topped off by a $2M liability umbrella off my personal residence.