By creating separate entities for the investments, you are looking to shield each investment from liability from the other investments.

Have a separate bank account from your personal, make sure the operating agreement spells out how to value if anyone exits, who can buy into it, you can vote to not distribute funds- if your sued they can come after your property but also your Cashflow stream.  

I come from the world of 100-500 unit properties where this was not the case and every property had it's own separate accounts that we controlled as the owners, but now having been owning and managing 1-80 unit properties for 4+ years, trust accounting is the best way to do it. 

Component Breakdown: The study identifies and separates various parts of your property (e.g., appliances, fixtures, landscaping) into shorter depreciation categories (5, 7, or 15 years) rather than the standard 27.5 or 39 years for real estate.2.

Where the argument hinges is on the lot separation. 

That's the beauty of investors, keep emotion out of it.

Purchase price: $200,000 Cash invested: $43,000 House with a separate one bedroom/one bathroom on the second level.

Secondly, should Building LLC be separate from Wholesaling LLC(currently being used for wholesaling).

Separate LLC per Property: Maximizes liability protection but adds complexity and costs with individual tax filings.3.

Only when the owners has to pay the utilities because the units are not separately metered.