The approach your bookkeeper is suggesting involves moving the costs to COGS, creating COGS account for each type of expense (ex: framing, HVAC, etc..) and booking a journal entry at the end of the year to move COGS to an asset account since you have not sold the property. 

@Stephen Brown I just read an article in the Wall Street Journal a few days ago that we are rated 25/50 as an emerging real estate market across the U.S. which is good and bad depending on your point of view.

@Sannibel CarterYou want to work with a bookkeeper that understands real estate investing.There are so many bookkeepers that don't know how to properly book certain transactions.The journal entry for the purchase of the house.The journal entry for a mortgage payment.Sometimes CPA's have dedicated bookkeepers on staff who understands real estate bookkeeping.Some designations are those who are certified to work on the accounting software.I.E.

Does anyone do daily journaling?

s $17 billion next generation chipmaking facility in Taylor.Drone photos taken by the Austin Business Journal in late June show initial site work being done at the roughly 1,200-acre site for the project in Taylor, about 40 miles northeast of Austin.

Have some place to journal for real estate make notes ideas etc.

But I will not make a move that doesn't make cents.I just finish reading miracle morning and just started thermal estate rookie book & the intention journal 💪🏾💪🏾💪🏾.

Keep in mind that you are looking to buy EQUITY, sure a house comes with it, but EQUITY is where you will grow your business.Keep a journal of detailed information on each property you look at, comments from the agent, a copy of the listing, pictures and comments of the owner. 

Or just journalize it so that you will owe the LLC.

Next my beginner's guide and eagerly awaiting my 2019 journals.