Hey @Tyler Gilpin, once you have more than a few properties, you'll want to consider software.

I used a basic DIY segregation study with an IRS audit guarantee.

If they don’t, it could raise a flag for an audit.  

If it’s illegal activity that’s one thing, but if the sponsor has a recent poor track record - who is to confirm that or verify it without having it third party independently audited - same goes for those good sponsors.

@Amber Straub there are several threads on here for PM software.   

What property management software do you use or reccomend to mange your properties? 

@Carolyn Mazzola unless I'm missing something, appears you are confusing Property Management Software (PMS) with a Property Management Company (PMC).PMCs employ PMS to better manage properties & tenants.If you invest OOS, who will be your boots on the ground?

Also, they have drastically reduced their audits the past several years due to significant manpower cuts.

For bookkeeping and financial management, using accounting software such as QuickBooks, Xero, or Wave can streamline the process.

So I strive towards using Lodgify which is a standalone solution that hosts creating a web front, connectivity PMS Channel manager with seamless integration with air airbnb and booking.com. although the platform is very useful we are now seeking towards expanding to a new platform that can onboard us with more rental platforms، based on my research I found a channel manager by a company called Rategain, unfortunately we cannot integrate it seamlessly so the solution would've been to use automation software (Zapier) that can bridge both platforms.