Right now I'm looking for referrals for a good attorney and accountant in my area.

Making sure to make a clear distinction between your rental business and your personal finances, nothing says you can't add a few months rent to their account out of your own pocket, via some cash to your PM.

Most times they take in account that you'll have a potential rental income from the other apartment.

All they charge is $1495 to originate and processing the loan , then you have the title company transaction expenses , pretty standard and the amount to escrow account ( property tax etc).

Account Closed I would say 1.3-1.5M.

You need to talk with an accountant to know what to do and how you will be taxed on the cash flow.

Also, I plan to set up business bank accounts for the property (being the only asset the LLC owns).

In addition to what's already said above, Of course do your due diligence from ensuring proper leases are in place, the rent he says is what he gets by checking his bank account or some sort of proof, make sure the expenses he quoted are correct by looking at utility bills etc., title should be free & clear, no zoning violations etc.

The logical solution is that market rents be adjusted to account for landlords additional cost.  

Hello,   New to BP, I'm looking for an accountant and Financial Planner that believes and works with individuals with rental property in the WA State area.