Please do speak with a CPA regarding this if you want to venture down this route to get a more concrete idea and advice.Since the LLCs are operating in different states then you will need to file a return for those states respectively.

Even though I will be living there, I will treat/respect my neighbors (aka tenants) as a mutual business relationship.

I don’t know whether my words in the post - if read - failed to relay that writing any other letter would be useless - this firm has had enough “missed opportunities” to do the right thing, pre COVID.In asking this forum, which required writing what I wrote - in as many words as I felt necessary - I am only attempting to verify whether:(1) I may be taking the law too seriously;(2) other clients of their respective PMs have experienced “missed” payments from their PMs;(3) from a PM’s perspective: do payments to clients sometimes not get made as a normal part of the business?

For others, it was a sign of respect.

We feel VERY free...respectful and responsible, but FREE....for now...LOL 

Over the last few years, countries like Turkey, Brazil or Colombia saw their currencies depreciate against the USD in a way that was totally unwarranted by their respective economic performances.

But if you're both bringing the same things to the deal (ex. capital and sweat equity to manage it), then the only real way to divide the split is in respect to the amount of capital that you're providing. 

It’s my first rental, and my tenants are a really nice respectful young couple with a baby.

If the respective housing authority accepts your proposal then you can request an increase.  

I'm very quiet and respectful, I communicate clearly.