Setting up Accounting for first rental

[Matthew Fitzgerald]

Hey all we are closing on our first deal and I was wondering how to set up the accounting to benefit me the most..... Some info I think may help... We are buying out of state, so we are using a property management company. We are buying with a heloc against our primary residence. Also I'm going to get an umbrella policy. We are looking at only small multifamily 2-4 units. I hope this info helps. Thanks Matt