We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.

@Christine House This can be the downside with investing in properties that have a HOA (sometimes they have a max capacity of how many rentals can be within the HOA, what type of rental they can be, or they can cut off rentals all together at anytime)If you have family that lives in the area, that could be a better option temporarily until you move it on into something else that can work for what you're tying to do.

Have you noticed any challenges or downsides?

BiggerPockets is a great way to learn, but my biggest advice would be attending networking events and connecting with like-minded people.

I still consider myself fairly new to this world, and I can say with 100% certainly the biggest battles are the internal ones, and this industry has given the pleasure of being forced to address several of my short comings, and continue to address them all the time.I find I get the most emotional when I get reactionary, so my constant focus is around honing and suppressing reaction as a whole both internal and external.Thanks for taking the time to write this up.

It needs to be shouted from the rooftops on BP - THE BIGGEST FACTOR IN WEALTH CREATION IS YOUR W2 INCOME!

What are the biggest challenges you’ve faced with either strategy?

Very little downside IMO 

The last part is the biggest challenge.

The deal will be my biggest deal yet and is in fact a large deal.