I have heard that I should have an LLC for each home but it seems administratively burdensome to have 100 bank accounts and 100 different tax filings, credits cards, checkbooks, etc...

What tax benefits might you receive that could potentially offset some of your tax burden with such high income?

The house probably also has delinquent taxes etc on it as well.

Also, during those 2-3 years you may have to bear to obtain possession, the borrower will probably ignore court orders to pay insurance and property taxes, leaving you out of pocket for those costs.  

Leverage can speed up the accumulation of wealth, but it also raises danger.Cash Flow: Keep your real estate investments centered around cash flow.

You make money and are expected to pay taxes. 

I know this is pretty obvious, but have you tried checking the Montgomery County property tax records or the property tax assessment records online for Silver Spring?

Here are some observations:The leading 8 listings have accumulated between 40 and 57 reviews in the past year.5 out of 8 listings feature 2 bedrooms and 2 bathrooms.2 out of 8 listings are studios, with the top-performing studio amassing 44 reviews in the past 12 months.The average daily rate spans from $116 up to $526.Next, let’s examine the most prevalent amenities among the 30 listings in this vicinity.The chart below illustrates the top 100 most common amenities in this neighborhood.

Could use some guidance on how to divide the business, taxes, and payouts.

So I'm wondering if I maybe messed up when it comes to accounting and taxes while rehabbing a house to rent.