That's because they don't operate using the same business methods.  

They should of deducted the leasing fee from the rent and then showed you had a remaining balance with them.They may be operating on a different property management software system and have to do things differently.You need to have a good understanding of your management agreement agreement with the management company. 

You need to know what these are for your local area, ask a realtor or your title company, to be able to identify who owns the property.You might call/visit the local government building or planning department to find out two things; 1) Who owns that parcel and 2) what covenants/operating and use agreements, if any, are in place that control the use and maintenance of the property.

The LLC would have an an operating agreement that lays out the responsibilities of each member, along with the capital contribution.  

In defining small, some are one-person operations with the same person often also the owner operator of the related operation where all the monies being loaned are from personal accumulation.

He has operating income from his rentals that may carry higher tax burden than interest income from a note. 

This being a 4,000 s.f. 7br/4ba1900's SFH that was being operated as a legal duplex (major fixer).Being in Vermont, with the Vermont Land Gains Tax, my Vermont investments are scheduled for exit at least 2-3 years down the road to minimize that tax.

I wish you would just trust me on this, but I'll share a couple of errors I made.1) Operation shut down.  

How Often Do You Update Your Operations Manual?

I plan to use my background in accounting, finance, and operations to begin my journey and I look forward to leveraging BP to assist in achieving my goals.