Building owners, having tenants in the building, shall post a notice in a common area of the building informing tenants that the owner of the building is required by law to supply and install carbon monoxide alarms in accordance with Section 908 of the Philadelphia Fire Code, and shall provide at least one tenant per dwelling unit or rooming unit with a copy of the manufacturer’s instructions for the alarm to ensure that tenants understand the purpose of carbon monoxide alarms, how they operate and appropriate action to take when an alarm sounds.

This is my first venture with turnkey operations.  

@Justin Worsham and @Luz Pagan - echoing everyone above it boils down to how I operate.

Social workers investing in real estate can operate a secont chance business.There are lower risk fish in the sea.

I work for a commercial mortgage broker that operates in all 50 states including Colorado. 

I need to always trust but verify in everything I work with others on.BEFORE PHOTOS:SNIPPETS FROM MY CONTRACTOR QUOTES:POST-REHAB PHOTOS:ANALYSIS NUMBERS (ANNUAL):Down Payment: $23,700Closing Costs: $1,455.80Rehab Budget: $8,500TOTAL CASH INVESTED: $33,655Gross Income: $15,600Insurance: $811.32Property Taxes: $1254.50Vacancy @ 7.5%: $1,170CapEx/Repairs @ 5% total: $780Management Fee @ 10%: $1,560NET OPERATING INCOME: $10,024.18PURCHASE CAP RATE: 8.45%Debt Service: $6,638.76NET CASH FLOW: $3,385.42CASH ON CASH RETURN: 10.06%NET CASH FLOW (w/out mgmt fee): $4,945.42CASH ON CASH RETURN (w/out mgmt fee): 14.69%

***DISCLAIMER*** I Own & operate a cleaning business.

Hello BP - I am planning to open an Operating, a Security Deposit and a Cap Ex/Reserve business bank accounts to manage my first multifamily rental.

.- Make sure you get all LLC documents (Articles of Org and Operating Agmt), and that the signatory on all loan docs (Note, DOT, Disclosures) matches the authorized signatory of the LLC perfectly.Good luck!

It is also operated under a single EIN, so there are some benefits through streamlining operations.With that being said, I would also have recommendations on separating your assets from your operations, but then I would veer quite far from your original question.