I want to open 2 bank accounts tracking the income and expenses of 75% ownership of 2 houses, and the same for the 50% ownership of the other. 

And DO check out their pictures and reviews online.

At this point I think you need to wait 6 months before asking him for money from his retirement account if the goal is to pay as little tax as possible. 

And so, while the projected returns are higher and hopefully underwritten in a way that those risks are accounted for, there is a higher probability that something will happen to miss those projections and end up with a lower return.  

The Venmo business account has a fee that I'd like to avoid. 

One thing to note: be sure you are watermarking any photos you post online with either your name, company name, phone number, something.  

You would have to season some of the funds in a savings then to checking account for 3 months but is could be done.

Any advice for a first timer please guide me to what kind of books to read as a newbie, which online resources to access, and more.

Hi Kristen, Have you or your clients actually used this lender or did you just come across them online? 

That's a red flag for some sketchy accounting because in my experience with a client that went through this and a PM company I interviewed, they were using Tenant Security Deposits to fund their business.