BobKamman
Level 15

Separate bank accounts?  Who gave them that idea?  Although maybe they went to some seminar where they were told (except in California) about the false security of separate LLC's for each property. 

How hard can it be to keep mortgage interest and property taxes separate, by property?  So what else do you have?  What they call "repairs and maintenance" and which an IRS auditor is going to consider "capital improvements."  They are too lazy to give you a total by property?  Are you OK with them telling you $10,000 for five properties, when it turns out to be (as you later explain to the IRS auditor, who just looks at you funny) that it was $8,000 for a new roof on one place and $2,000 combined for four others?