Escrow Account Setup 9. 

Check on ownership status before you get into escrow.Get multiple inspections to be able to really determine the extent of repairs.Try to align yourself with the best contractors, had good referrals, but somehow nobody stood behind their warranties.Have a good lawyer and local accounting firm.Talk to locals to see how things are done and what's happening around you.Have patience!

It is also will allow for experience in managing tenants, repairs, accounting of the expenses etc...plus you get to keep a close eye on the property.

So you could open an account here to make quick deposits?

This credit amounts to $1,666 per month, with the monthly rent set at $3,300.From an accounting perspective, should the $1,666 per month be treated as a liability (deferred credit) and excluded from income, or should it be recognized as income and then applied as a credit at closing?

Also,  make sure your turn over costs account for the smoke damage.

Hoping to meet a small group 3-6 people that can brainstorm, ask questions, and help hold each other accountable for our goals. 

You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

The main reason is that it is not initially set up for a Real Estate business like other “real estate-specific” accounting software.

Account Closed maybe Bill Gate's was a bad example.