Private lenders and partners often care more about trust and a solid plan than perfect numbers.

Take Care!

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.

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

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.

@José Juan González It was great speaking with you yesterday and I know Eric will take great care of you!

- You may want to get HELOC on the owner-occupied property while you can, to tap for that emergency.Hopefully, you've also checked into local zoning requirements with the basement conversion.Be careful of chasing cashflow!