They should pay just like someone on a regular lease pays - cash or equivalent into your bank account. 

Imagine if you had one single-family home.

My mortgage will be $2,005/month, and I’m budgeting up to $600/month for utilities, leaving a potential monthly cash flow of $995.I also set up an LLC and a business account to track rental income and expenses.Questions:Do you have any advice for me as a young real estate investor?

We are in the top 10 fastest growing big cities right now, so families and singles are constantly flying in to check out the area.Raleigh allows short term rentals if you apply for a license.

Another lesson I’ve learned is that buying a single family home as my primary residence to later lease to a tenant is a bad strategy unless I’m purchasing the property at a really low price.

Provide a detailed accounting of deductions, along with the invoices, to show you’re acting in good faith.

Pretty much every small business other than some obscure ones that are excluded (see below) If you have 12 Single Member LLCs that own your rental properties.

Where did you take into account the landlord paid utilities?

I have a sibling who is looking to sell two single-family rental properties but is concerned about the tax implications.

What about Debit Cards attached to a checking account?