Without REPS, the depreciation will create passive losses that can offset rental income or be carried forward.

So this is creating more competition and more agreesive rent rates and/or concessions like 1 month free to get those vacancies filled.

Consider forming an LLC for liability protection or an S-Corp for tax efficiency if flipping frequently.This post does not create a CPA-Client relationship.

My advice would be is to talk to multiple investors who have real world, actual success-based experience in flipping over a sustained period.

It was suggested that we create an operational company that will lease rooms to individuals in recovery.

However, if that is undesired i would create a single account to hold all deposits.  

If it didn't cash flow perfectly none of that mattered to me because I was buying buildings in good neighborhoods for the long-term generational wealth they'll create 5, 10, or 15 years down the road.

Selling the rentals via installment sales could also spread out tax liability.This post does not create a CPA-Client relationship.

BP creates the impression that if you're not buying, you're automatically in 'analysis paralysis.' 

Additionally, not all transaction types support Locations, meaning you'll have to create journal entries to correct them—requiring a solid understanding of debits and credits, which can be time-consuming and error-prone.Instead, I recommend biting the bullet and upgrading to QuickBooks Online Plus for each entity.