Would not be the first tenant to get scammed for a security deposit and a few months rent before they figured it out.  

I'd consider it with double the deposit, good income, and a co-signer.

So this is not my kind of Hotel to stay at, but when I seen it I immediately thought this is the kind of Hotel I would go to have an upscale business breakfast (and less often an upscale business lunch) during the week.Show up, park, go inside sit in a nice lobby, a waitress offers me a free coffee in a cup and saucer, while I and other businessmen (so few ladies seem to do this) sit and wait for the Restaurant to open at 7am or whenever.This works if the Clientele of the Hotel matches the intended restaurant customer. 

Do the math based on your personal needs and goals and if the property matches that go for it.

For the vast majority 1 LLC and 1 checking (operating account for income and expenses) and 1 savings account (for security deposits and prepaid rent) and then as @Nathan G. says over here you might find a 3 account useful:  Do you have one bank account for all of your LLC?

I think the difficult part with your advice is that New England multi family market is extremely competitive so going after something worth 1M might be risky because people are just through junk out with a price tag and the CF doesn’t mAtch up all the time.

Don't be surprised to be turned down for a place or requested to provide a larger security deposit.

So asked for bank statements to verify 3 months of rent, but they have no savings.but their credit score is fine and no late payments or evictions.wondering,  if that should be consider may be with extra deposit or not?

On the other hand, if they are returning your deposit-I'd also ask for interest and any other fees that were paid (eg inspection, appraisal, etc).

Or the deposit and pet deposit combined has to be under 1.5x the gross monthly rent?