Assuming you just manage your own properties, not other people's properties, you can use Buildium for management tasks (keeping track of maintenance, store documents, communication, etc.,) and use QuickBooks for everything related to accounting/financials.

Now working on my short term properties as I like to do hands on maintenance or designing and financial strategies as much as possible.

4) How to control maintenance costs.

Sometime in the next month or 2 we plan to choose the exact property.Short-term goal: Buy a turnkey single family or duplex which cashflows even after accounting for management and saving for future vacancies, maintenance and capex.

I am trying to make sure we do all the necessary updates, maintenance, requirements to the property before putting it up for rent.

Make sure you stay up on maintenance.

@Minji KimRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which is VERY important for stable rental income and low property maintenance/damage.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Then you have ongoing costs like mortgage payments, property maintenance, and property taxes.This article provides a thorough overview of how much money you need to start your real estate investor journey.

You can deduct expenses like mortgage interest, property taxes, insurance, repairs, and maintenance costs from your rental income.The biggest advantage is depreciation—this allows you to deduct a portion of the property’s value (excluding land) over time, significantly reducing taxable rental income.

Generally, Detroit to cash flow is high maintenance and cap ex and harder tenancy to start off.