I do typically recommend individual bank accounts for each cell but I see some variance on this and you can sometimes forego individual bank accounts in favor of just a single bank account in the series LLC as long as you have strong bookkeeping that meticulously separates income, expenses, etc. of each cell (e.g. by using a classing or similar bookkeeping system).It is important to note, however, that TN has a franchise tax that requires careful structuring to avoid by ensuring that the entity structure qualifies for the FONCE (Family-Owned Non-Corporate Entities) exemption.

Be careful if you plan to sell in the next say 7 years, you can get hit with depreciation recapture at higher tax rate. 

Buyers typically care more about how the space functions than the exact acreage number.

Take Care!

The expenses covered taxes, insurance, utility (water/sewer only), and I included 500.00 a month for lawn care and general maintenance.I have $65,000 in a high yield savings account that could be used for tenant improvements generated from rents saved in current building and a flip from a couple years ago.

You want to be careful not to overleverage.

BRRRing is getting more difficult as prices have risen.Too many investors are now chasing Class C & D property deals - without properly understanding the additional risks of these asset classes.So, be careful and understand Neighborhoods and where to invest.

He let me know those under 40 want get rich quick or just don't care.  

Treat it like a business, run your numbers carefully, and focus on steady, scalable growth.

I am concerned if tenant vacates (who is original tenant for last 6 years ever since i bought this property hoping she will extend lease which is coming up in 4 months from now) it will be bit hard to take care of mortgage for many months from money from my pocket.