It is important that investors understand how a income property actually generates the income.Equity in a income property must be treated as a separate income generating stream on the property and there for draws income away from the property itself. 

We currently are saving that monthly income in an account separate from our personal accounts but I'd like to know the process if for some reason we ever need to use it month to month. 

We currently are saving that monthly income in an account separate from our personal accounts but I'd like to know the process if for some reason we ever need to use it month to month.The next question revolves around financing for future rental properties.

However, you need to make sure you understand you are talking about combining two separate strategies.  

I am a United States Marine and am separating this June for college.

Bill the tenants separate for the utilities monthly.You should probably investigate the cost of setting up separate utilities to get them in each tenants name.

I've asked for them to keep the water and HOA separate for billing/accounting purposes.   

Hello everyone I've recently purchased my first rental property, a townhouse and went cash in to get the best deal, I'm almost done with the renovation process, we have it listed for rent, I purchased this with a new set up llc not to use my other llc so I could keep things separate, my question is how can I get some cash back out of this to go out and buy another unit?

What are you thoughts on investing in a 2-3 unit (separate structures) property on the same lot?

I ask as I currently have multiple LLCs and have a bank willing to give great terms on a mortgage over $750,000 - However, I don't have $750K in any one LLC and obviously can't do multiple separate mortgages to multiple separate LLC's and still qualify for the terms.