Best way to set up accounts

[Red Snapper]

Sirs!

First, thanks much for your labors, I love product! 
Please forgive too my poor English.

My question is thusly as follows.  Pretend, if you
will, that you are me.  Don't have long face, this
will take scarce moments ;)!  You have vanilla
checking account which you use for grouping
transactions from three real estate properties for
renting.  Soon you must report to uncle Sam about each
property separately.  There are some split
transactions (e.g. pay landscaper with one check to
service two landscapes!).

To accomplish you might:
a) create accounts e.g. "Expenses:Real Estate:Property
A:Landscaping" and too "Expenses:Real Estate:Property
B:Landscaping", but this weighs heavy on heart.  Too
you might b) artificially separate transactions from
vanilla checking account into two GnuCash accounts. 
You find this difficult because of split and further
suckness also.  Finally c) enter vanilla checking
account properly, but too create in GnuCash two
separate "virtual" checking accounts which represent
each renting property.  This has limitation that you
no more can track Expenses at all, correct?

Please advise me what to do!  My consternation is
deep!!

Thanks Much In Advance
-Claude

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