It’s really good to have a set of eyes (you and/or a bookkeeper) to make sure each transaction is going to the right LLC and/or property and is accounted for properly.

Quote from @Jake Baker: @Akshay BhaskaranI have a few bookkeeping clients that invest in Columbus.

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.

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

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.

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. 

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