Once you get your head wrapped around the concept of what you are doing, instead of viewing QuickBooks as the dastardly accounting software program where you need to be an accounting guru, you will become more relaxed.  

The concept is the same.

Moving it into an LLC later may trigger a “due-on-sale” clause unless handled carefully.Bottom line: With just one rental, it’s often simpler and cheaper to keep it in your name, get solid insurance, and revisit forming an LLC once you scale.

I think it is even simpler.  

I am in Idaho and have built a prosperous and rewarding business based on this exact concept.

In order to feel better I have started laying out the 4plex design concept.

It may be simpler to pursue the STR loophole strategy as there is no limit the losses used to offset your W-2 income.

Participants in the commercial real estate space could do themselves a lot of favors by forgetting entirely the concept of purchase cap rate.Cap rate has only one useful purpose--and that is to estimate the price in which the property may sell for at a later date. 

there hasn't been a ton of discussion since it's a fairly newer concept let me know if you'd be interested in discussing further.

Depending on your preferences and overall tax situation, it can sometimes be simpler to just pay the tax and move on with life, rather than force a deal.