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Banking
No, you don't need More Accounts: "Also I tried to set up a new item as Service – Rental Income. QB is warning me that I can’t with undeposited funds? I do have income accounts that I use that are named unit 1, unit 2, etc. Should I point the account to those? If so it would seem that I need multi items for rents"
The Items are Income, the tenant Name is already on that sales receipt. You don't need One Item per One Account. You can Name the item Rent, or Rent Unit 1 and Rent Unit 2. They both link to one income account for Rent. You can run Sales reporting now that you are using Actual Sales transactions and not just Banking for managing rent.