Because honestly, at one point, I considered his offer and was afraid of the possibility that if I didn't accept I'd be taken to court and be responsible for putting my children on the street, and I can see those types of scare tactics and resulting emotions being enough to scare someone into complying with a transaction no matter how laden it is with misrepresentation, non disclosure and fraud it could be.Again, I don't know if I misunderstood the laws and regulations or not, I could be wrong.

As we try to catch up on those back utility bills with the tenant, they have applied part of a rent payment toward the utility catch-up even though the tenant made a separate payment to catch up on the utilities, as previously agreed and discussed with RHR specifically (an installment plan to pay the entire past-due amount back). 

Whatever you choose, make sure it is kept separate from personal finances. 

Thank you both so much for the detailed repliesA few questions related to Accounting if you don’t mind1.Do you recommend separate bank accounts for each property, or does a single account work better?

Here are the numbers I know so far:Rents4 units all currently occupied on one year leases- #1: 1/1 $995 monthly- #2: 1/1 $995 monthly- #3: 1/1 $995 monthly- #4: 2/1 $1,100 monthly- Gross rents: $4,085 monthlyExpenses- $12,070 taxes annually- $350 monthly insurance (my estimate, they have liability only right now)- $175 monthly landscaping- $120 water (electrical on separate meters, tenant pays)- Total expenses: $1,651 monthlyNOI around $2,434 before vacancy, maintenance, and management (although i would likely self-manage these)Property needs about $50K in other repairs and udpates from what I can see.

I have a chance to acquire a property that includes a mobile home park (100% leased) and a separate multifamily property.

Are the separate mechanicals for each unit? 

I also have a separate mortgage account for each property.

I am renovating a walk out single family home to have a separate legal unit in the walk-out basement. 

It's a bit cumbersome, you have to maintain strict financial separation, and because the loans have to be non-recourse, your LTV is lower.