Not only did I get an appraisal, home inspection and know the area through my research, I also had five years of Property Management Bookkeeping, knew EXACTLY when the tenant had paid rent, every repair request for five years, practically everything about the property. 

"hypothetical scenario" and your thoughts:Own a home and use 1 room exclusively for meeting retail clients and reading book keeping reports/analysis. 

You always want people looking out for YOUR interests.Accountant - As you acquire properties, doing your own taxes and bookkeeping becomes increasingly difficult.

A class at least my A class won't run anywhere near those expense numbers here is why.1. because of the quality of the tenant I can have my bookkeeper manage them for me No Management fee...

Once the house is rented my book keeping seems fine.Any ideas?

Our charge accounts are all set up with a PO number tied to each property so the book keeper can allocate the purchase accordingly. 

Am considering opening a Property Management firm (already have a RE license in CA) to provide services to others, but would like opinions from this forum.If I do it, I will invest in the management software, portals, and already have an experienced bookkeeper, but could use some words of advice.Comments?

I have had a Real Estate License which yes I went to school for it, as well as a degree in Business Management and another degree in Accounting/Bookkeeping.

Since you are now in Southampton, I'll guess that your rental is in NE Phila so probably not going to be lowlife tenant types there.Now, you should set up a separate bank account for your rental property and also separate bookkeeping.

If you're a total do-it-yourself kind of guy, a self-trusteed 401k does allow you to perform all administrative functions related to the plan and it's investments.What if you hate bookkeeping?