@John JeffreyCongrats on getting under contract.A tip for new investors is to open up a separate bank account for your business/rental related activities.

Each duplex is individually metered gas and electric, the water/sewer/gas is shared and the previous landlord has been paying that separately.  

I’ve posted on this relentlessly...For a couple of properties, insurance and umbrella policy should be enough.Don’t forget that LLC’s are not eligible for conforming residential loans should you decide to refi...You also need to operate the LLC as a separate entity to maintain/protect its corporate veil otherwise you’ve defeated the purpose.

And I'm discovering I need to keep my long term investments in a separate account and also to try not to trade the same stocks in retirement accounts. 

But, you need to separate truth from reality.

We were going to go 50/50 on a quad but after finding out the seller turned it into a rooming house we cancelled and put our funds into separate deals.  

  :)I have used commercial loans of each and created separate LLCs. 

If we could find a way to meter each unit separately, could we try to suspend water service for that unit?

When you ask about plumbing, be sure to separate out the drain lines and the supply lines.

I have separate bank accounts for personal property, LLC1, LLC 2 and Holding LLC.My question is around non-property related expenses like traveling to scope out new markets, home office, supplies for the office, legal fees, professional services etc.