For those who are highly disorganized, I sometimes advise them to have a separate account for each property, depending on the scenario.  

Sometimes, there is also a tenant already in place which means you can start generating rental income from day one.

I can't stand Dave Ramsey because he advises people with out asking 100 questions that you should before you give advice like this. 

Full Occupancy: The property achieved full occupancy within three weeks of listing, with strong tenant demand.High Cash Flow: The property generates $5,570/month in gross revenue and approximately $4,690/month in net profit after operating costs.Effective Use of 1031 Exchange: $300k of the total $420k investment was offset by the 1031 exchange, minimizing out-of-pocket expenses.Long-Term Stability: Designed for durability and versatility, the property is expected to cash flow for decadesLessons learned?

They generate about $300k in rent, I get to keep about $250k of that in cashflow.

Rentals generate passive income, so an S-Corp offers no added tax benefit.

A real estate business can also potentially generate a SOLO IRA or something like that. 

Readers are advised to seek professional advice.

Meanwhile, gross rents of $1,800+ for 3-bedroom single-families is an achievable figure, so it’s possible to generate cash flow if you lever modestly.There’s a bunch of other stuff that’s worth highlighting—the economy, demographics, neighborhoods, new construction, and more.

Forums and meetups like BP have changed the game for my family for generations to come AND for generations for people in our homes.