The ADU should be just a standard lease agreement to count it, because its a separate unit from the main living space.

Basically I wanted to separate all of my business finances from personal, and put the real estate I purchased into the llc's name, to protect my personal assets. 

Regarding the cash payment, in the state of Mass you are supposed to have a separate bank account for rental income especially when handling security deposits.

No Aaron, it's a main floor roughly 1500 square feet that's been divided using a hallway with doors on each side totaling 6 separate offices. 

Scenario: 2 bed 1 ba house in high appreciating area in southern ca (west of the 5 for anyone who lives in San Diego) which is high priced now but being coastal and in an up and coming area is set to roll. 1 granny suite in the back with full kitchen and bath + Separate barn unit (not zoned for a dwelling unit but is carpeted). 

I started using them after they were recommended to me separately by 3 different very experienced investors, and they know their stuff to a "T". 

@Chris, certainly for the one I'm living in I'd be lucky to have two roommates that would even put me close to breaking even each month, but if I was to just buy a separate one, I'm really fortunate to have a lot of strong connections with people that need short term leases in the area, and I know what kind of premium they are use to paying for those.

If you want to send out a balance due.. recap a week prior to rent being due fine,, but I'd list it as Sept Late fee,,,,xxxx and upcoming rent, each as a separate amount. 

I know some small time folks prefer separate Llc's for each property.

PLUS, like any good investor should, I put a CapEx fund in a separate account and I'm also not planning to take any of the profits - they're to be reinvested while I'm still working full time.