Hey @Garry E Grant welcome to the site!

For most acquisitions, the HUD-1 has only a couple of line items that can be expensed on your Schedule E.  

P.S If I posted this in wrong forum please move to proper one... ;)

My question is how should we structure this so that I'm properly compensated for the risk I'm taking?

Rich Dad Poor DadRich Dads Cash Flow QuadrantRich Dads Increase your financial IQThe Real Book of Real EstateThe ABC’s of RE InvestingThe ABC’s of PMRich Dad RE Tax AdvantagesThe 10X RuleThe E-MythThe 4 Hour Work WeekBiggerPocketsPodCast -I hear #136 is exceptional!

I was asking because I didn't know the proper procedure.  

Dodd-Frank set in motion the requirement for "every lender" to insure that mortgage transaction was properly serviced . 

I've used Quickbooks and Peachtree in the past.....Xero is a much easier product to use and actually allows you to calculate depreciation each month (which last I checked Quickbooks does not do).I set up each rental as a separate "project" so when preparing tax returns on the Single Member LLC, I can easily split out the Schedule E items.

You should save your money work hard then invest when your properly capitalized

I also check the deeds to ensure they are conveyed properly.