All Forum Posts by: Daniel Hyman

As someone who is a frequent guest at STR's I don't think that would speak to me much, but I think its a great way to think outside of the box.

I'm not sure what the benefit of the scope is, outside of proving to the city that a clog is on their side of the plumbing.

I look for markets with a COC that fills my appetite and that has a critical number of vendors that can service me (eg: property managers and cleaners).

@Ryan Burton

Welcome to the forums! 

There are several tax pro's here that specialize in real estate. Not sure of anyone in AZ. Most of us work across state lines though, so don't let that be a barrier. Reach out to a CPA that you feel might be a good fit and see who is still taking on client at this time. Best of luck!

If you are looking to scale, you'll likely want to outsource this task at some point. If that is the case, QBO will be the software that most bookkeepers and tax professionals are familiar with. Just something to consider for the future. 

There are many talented real estate tax professionals that work with investors all over. As long as you are comfortable working remotely, you may want to expand your search area so you can find a specialist. 

If you want to keep it simple, go with Stessa or a simple spreadsheet as a P & L. No need to get too complex unless the portfolio size warrants it. 

You may want to seek advice from your CPA. A real estate CPA should be able to advise you on bookkeeping, setting up a document retention system, and overall compliance. For example, our clients are provided with a  customizable bookkeeping template optimized for rental real estate. I'm sure other firms would do the same.

There are some great tax pros here on the forums. Search around and reach out to see who is taking on new clients and how they might be able to help.

Hopefully you have a CPA on your team for tax advisory and compliance. If not, I would start there and then ask the firm if they have recommendations for bookkeeping or if they can do it in house.