It has really simplified my life on both the banking and bookkeeping fronts.

Doing nothing may be correct for one person, and engaging in a complicated entity structure may also be correct for another person depending on the situation.Each real estate investor/professional has different risk tolerances, different levels of savvy, different abilities in terms of bookkeeping, different estate plans, if one has an estate plan at all, and different relationships.

That is basically an extra tax return, legal fees for setup, bookkeeping costs (if you aren't doing it yourself), possibly an umbrella policy.

Hello All,I recently heard on the Biggerpockets PODCAST an Ad for Found.com (Banking and Bookkeeping) and went to check it out, however it is only for single member LLC's. 

It is NOT specific to property management, only invoicing and bookkeeping but it does that well.

My accountant and bookkeeper have been dropping the ball and just seeing if there are sofware options available I may not be aware of. 

If piti is $1100 and rents range from $1000 to $1200, conservative underwriting would use the lower of the rent range, we have $1100 rent - $1000 PITI - $120 PM  - $50 (vacancy) - $300 maintenance/cap ex - $50 misc (tax man, asset protection, book keeping, utilities that are not tenant responsibility such as for a slab leak, etc) is about negative $420/month. 

If you don't do a lot of transactions make a folder and label it 2024 scan and store all receipts for bookkeeping.

If you are proficient with Quickbooks or another bookkeeping software then Cozy can be a nice way to go for an Owner managed setup.

The top ones we see in our bookkeeping firm and that I've experienced personally doing BRRRR's are overleveraging and romanticizing the cash flow.