I do plan on growing the RE portfolio and want to make sure the next moves are savvy.We have decent 401ks, and limited liquid funds in savings...Thank you for your timeNo, you don't!

@Denise Supplee and @Arman Ahmed gave good advice on leasing w cosigners, and making the leases individually/severally.Keep in mind:  there are two separate and distinct types of student housing tenants: undergrad and post graduate.What I've found over the years: If you want to deal with adolescent, underage, first-away-from-home students, be prepared for more hand-holding and maintenance issues. 

If Rent is $1300, set up Tenant to have a monthly receivable for $300 (for example) for 101-A, and a separate monthly receivable for HD for $1000. 

Potentially, you may not save any taxes by moving the property into an LLC. 

It does have a separate entrance that will need to be replaced with French doors.

Do you have separate bank accounts set up for each property or do you guys use any good software programs to help separate out each properties income and expenses from say Airbnb or Vrbo?? 

@Sherelle Montague That’s a smart move—especially locking in a property with both units under one loan and using the assistance to keep cash reserves for repairs and surprises.

What are some budget‑smart ways to:Create separate zones (guest area, sitting area, storage, etc.)Hide or integrate laundry functions without making it feel like a utility roomAdd visual interest (walls, ceilings, flooring) that work in a basement environmentUse lighting, partitions, rugs, paint, etc. to elevate the lookI’m especially curious about solutions that STR owners have used successfully.

My hunch is you will be more profitable renting separable than together.

Learn the system that all people, accountants, CPAs and all are going to use which is quickbooks so you know it and it can be transferred easy when you are ready to move from self managing to bookkeeper to accountant.