We only use one checking account and all the money goes in and out of that account.

I'm thinking things like not taking into account PMI or other expenses you didn't figure into your analysis of the property.In general, what didn't you realize would be part of your life until after you purchased your first property. 

If you give me $1 million to work with, I guarantee I can find a way to get you $100/month with that: a savings account. 

After the LLC, S Corp, C Corp, Sole Proprietor or whatever is set up with Legal Zoom, I think what I should do next is get a business bank account and a mailbox for business mail.

Originally posted by Account Closed:I am looking to do a owner/seller finance on my 1st deal.

You will have a hard time gaining any traction without a track record in real estate, underwriting, commercial brokerage, legal/accounting, property management or portfolio management. 

Account Closed

why would you buy a rental in a SIDRA  you lose the depreciation benefits.. which is one main reason to buy a rental in the first place.. notes are the best vehicle for retirement accounts. 

Which account do you pay the bill from (personal or business?)

Depending on the size of your portfolio/account (I know they have a minimum), Investor Solutions in South Florida is a fee-only investment firm.