Even if I add back in your 20% in expenses and say we didn’t use property manager, you didn’t write off your cell phone, your internet, your new iPad, and nothing broke you have a $2,000 loss. 

@Julian Colvard Never give your cell number to tenants! 

@Chris De Celle thanks for the response.

Think the cell phone companies would pay cash for debt? 

So, we have no land yet, but I like to journal about new creative strategy and wanted to see if you can build a small multi-family. 

His name is Kyle Koller with UMortgage, his cell phone is 801-687-2018

As long as you have a cell phone # to attach it to, you can create a US number, that'll help with making calls easier.

I am always looking for better ways to do the math.I like to go with Kindle since I can carry all my books on my cell phone or a tablet. 

Will DM you my cell number.

@Dan TurkelThe correct way to do it.You record an 'adjusting journal entry' for your PM transactions that indicate what the PM mentions in their monthly PM Report.The net amount owed to you is either ' Due from PM' or 'Due to PM'.When you receive the payment from your PM, it updates the Due to / Due From account.Example - A monthly PM company reporting $1000 of rental income and $100 of PM FeesDue from PM - $900PM Fee - $100               Rental Income               $1000Cash           900               Due From PM                  $900Difficult for most non-accountants to understand.best of luck