Every separate entity needs it's own accounting and bank account etc., otherwise it is not separate. 

What's the best way to track your property income/expenses for tax purposes?

Is this similar to single family BRRRR?

If so, can I just have them record a single sale, and then file the deeds of trusts as liens at the courthouse on my own to save all the fees later? 

I need to rebalance my checking account before I can consider paying any bills

Generally, this post is asking for guidance regarding knowing what a good deal is, as well as getting some estimates for costs such as insurance, as well as other questions such as ease of finding tenants for room-sharing in a Single Family Townhome.

An LLC isn't really necessary for a single or even a few STRs.

Eventually, i would like to be a real estate investor; whether it's renting out a single-family dwelling, duplex, etc.. 

But just find a good investor agent, see some homes, run some numbers, buy a solid single or double and see how it goes. 

They're going to require that you file a form with them every single year (it's Form 3840) and on this form you need to report back that you still own the new investment property, and that you haven't sold it and haven't received the income from the sale.