Tracking income and expenses

[Tyler Eastman]

I am a new real estate investor that just closed on my first single family house two days ago. I am trying to get everything in order before I start renting it out.

That being said, should I use an excel sheet to track my income and expenses or is there a better way or better software?

I want to keep my expenses as low as possible because this is my first property, therefore I need any software I use to be free or very low cost. I have heard of Stessa but have not looked into it yet..

Any help or advice would be greatly appreciated! Thanks!