We have an accountant with a chart of accounts to manage everything but I do not see why you need one for operating expenses vs. income.

Also, check if they have skin in the game (their own money invested), as it shows they’re confident in the deal and aligned with your interests.If you’re considering alternatives, REITs are fantastic for super-passive investors who want steady, low-effort returns—usually about 2 points above a savings account—but you lose tax benefits and control.

Problem: Set & Forget - Most people know the importance of an accountability partner when it comes to goal setting.

And they should have accounts for everything with heavy discounts built in for their quantity buying.

., and in your analysis account for slightly higher PM fees.  

I would definitely ask your accountant before making any changes or opening an LLC.

I recommend finding a real estate and business accountant to help you with filing your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

Just make sure all pieces are accounted for regularly.

The 1% rule doesn't matter as much if you have a 5-10 year investing horizon because it does not take into account appreciation or other benefits of holding (tax benefits, etc.)The 1% rule stops a lot of folks from getting started. 

Gross profit is interesting because it appears to just be the difference in his acquisition and sales price and fails to take into account the other obvious cost of running that business which includes, again according to him, the cost of over 26,000 letter print, mail, post, and the cost of the lists needed to create a mailer of that size.