Very time-consuming. 

For me, actions are paramount, words cheap.

Being a full time landlord is sporadic and can be time consuming when it's bad.

This is a tricky situation because it you want to take legal action do not inform the lender of the mistakes because they will notify the appraiser and the appraiser will correct the report and we go by the last report sent to the client.

Most important may not be "how you structure," but that you make great investments and take action to create cash flow and profits.As a lender I see a lot of companies organized poorly and accounting for things incorrectly, but it might be better to see a lot of income structured incorrectly, and a little organized perfectly :) With that said, I am careful not to give legal or accounting advice, I can say that I maintain separate companies and open business accounts for each company. 

I'm at the point of just needing to start putting a plan into action. 

Other than that get out there and take some action!

What course of action should I take as a $1300 water is not sustainable? 

@Jennifer WhitledgeJust curious, how do you know the water heater is consuming your electricity?

It’s like I’m getting paid to learn, grow my current business, network, and take action towards real estate investing.