Thank you for all you do and the development I will experience.Wishing you all health and happiness!

Yes, you should have :)  This perfectly illustrates the danger of getting or giving tax advice online from incomplete information and assumptions. 

What about health & home insurance?

I learned the permitting process and what it takes to get the septic approval expedited by the environmental health dept.

PF recommends if I have several LLCs that are similar businesses (i.e. buy and hold rentals) I can use the same accounts (Income, Profit, Owner's Comp, Owner's Tax, OpEx, etc.) for the LLCs in order to see the overall health of my rentals. 

So much so, these entrepreneurs are called “Tampreneurs.”Tampa has the diversified economy millennials seek, led by financial services, STEM-related occupations, health care, research, education, tourism, retirement, and military bases all making significant contributions to jobs and growth.

(A) A landlord who is a party to a rental agreement shall do all of the following:(1) Comply with the requirements of all applicable building, housing, health, and safety codes that materially affect health and safety;(2) Make all repairs and do whatever is reasonably necessary to put and keep the premises in a fit and habitable condition;(3) Keep all common areas of the premises in a safe and sanitary condition;(4) Maintain in good and safe working order and condition all electrical, plumbing, sanitary, heating, ventilating, and air conditioning fixtures and appliances, and elevators, supplied or required to be supplied by the landlord;(5) When the landlord is a party to any rental agreements that cover four or more dwelling units in the same structure, provide and maintain appropriate receptacles for the removal of ashes, garbage, rubbish, and other waste incidental to the occupancy of a dwelling unit, and arrange for their removal;(6) Supply running water, reasonable amounts of hot water, and reasonable heat at all times, except where the building that includes the dwelling unit is not required by law to be equipped for that purpose, or the dwelling unit is so constructed that heat or hot water is generated by an installation within the exclusive control of the tenant and supplied by a direct public utility connection;(7) Not abuse the right of access conferred by division (B) of section 5321.05 of the Revised Code;(8) Except in the case of emergency or if it is impracticable to do so, give the tenant reasonable notice of the landlord's intent to enter and enter only at reasonable times.

See the illustration below.In a declining market, the current rent actually reflects property prices or 2 to 10 year ago when prices were higher.

@Josh Baker The FHA appraiser's job is to look for health/safety issues and recently sold comps, not verify everything that is permitted or unpermitted work, that is up to the prospective buyer to confirm and verify.For a FHA 203k loan, that would be something to discuss with a lender that has done that loan product before. 

FHA loans have higher health and safety standards than conventional loans.