Just want to start setting up as if it were. so far i have thought about creating 7 accounts.1) all rental income account 2) account where common utilities and mortgage will be billed3)maintence/capex expenses4)vacancy expense5)management expense (to put the units up for rent)6) property taxes 7)cashflow am i missing anything? 

Be aware that 5 levels of membership can create divisions within the ownership group because the same investment at any point in time can behave differently for each class of investor, so motivations may not be aligned. 

So here's the question, How can I legally evict a tenant who hasn't seemed to do anything wrong except created a landfill in their apartment.

A few resources that might help: • Books: The Millionaire Real Estate Investor by Gary Keller and How to Create Wealth Investing in Real Estate by Grant Cardone. • Documentaries: Check out The Queen of Versailles for insights into the challenges of hotel investments. • Podcasts: The BiggerPockets Commercial Real Estate Podcast has episodes on niche asset classes, including hotels. 

., repairs, management, communication with the seller).Exit strategies in case things don’t go as planned.When you do find the right partner make sure to create a joint venture agreement that outlines all of this clearly.

I’m based out of Lehi, Utah, and have always been fascinated by the potential of real estate to create opportunities and build wealth.After spending time learning about the industry and what it takes to succeed, I’m ready to dive in and start making deals happen!

To find deals that make sense, you need to dig deep, get creative or create large value add.

Visit FinCEN’s website for filing details.This post does not create a CPA-Client relationship.

Be prepared to spend a lot of money creating the infrastructure.  

If the property breaks even, or operates in the red currently, it will only operate deeper in the negative (unless you find a strong ROI like creating more bedrooms, convert a non living space to living space, etc) with another loan.