Cash or Accrual Accounting?

[Candace McCutcheon]

I have read from several sources that RE investors MUST use the cash accounting method. Our CPA says this is not true. If the state is important, we are in SC. Can anyone confirm this one way or another? To give insight into my concern... Supposedly, when we sell on owner financing, we must claim the full sales price for that year (cash method). This hardly seems right... why would we have to claim and pay capital gains when we haven't even received the gains? Our CPA is the only person that will tell me we can use the accrual method. One in five makes me nervous. Can somebody please give me a definite answer?