Multi family financial management

[Michael Ruane]

I just closed on my 3rd 2 unit building and have leases secured. It needs minor cosmetic updating but in good shape otherwise.

The reason for my post is now that I get deeper into RE investment, I would like to sharpen my pencil on management. My partner and I both work professionally and invest in the side. We have recently moved to QuickBooks for accounting.

First, I’d like to know if anyone has video recommendations on how to beat maximize QuickBooks and tracking income/expenses?

Second, does anyone have recommendations on reading or just general ideas on how we should be allocating income? Specifically, what ratios are good to use for managing the properties...percentage of rent dedicated toward property maintenance, insurance, taxes? Essentially I’d like to understand the basics so we can continue to grow this.

Any help is appreciated.

Mike