It doesn't mention requiring paper receipts at all.

Quote from @Scott MacComb: I have had contractors just do a small list on a paper napkin, and some do something on a word document.

These expenses can create a paper loss, which may offset other passive income or carry forward to future years.If you qualify for Real Estate Professional Status (REPS) or actively manage a Short-Term Rental (STR), the losses can be applied against your active W-2 or business income, reducing your overall tax liability.

We were told the secondary market started rejecting the lower priced paper that they were originating and they were forced to raise the rates.  

I had one of my borrowers leave me for a HML who was of course cheaper. and this HML assigned all their paper / or at least his paper to Peer st.

In addition being able to do your own searchs and one thing out west here that was very productive for us/me was just going through the big Plat maps ( the actual mylar / paper ones in the day) We could find shadow plats.

On paper they were amazing deals, in reality they sucked so badly I went into self storage instead.

You just buy paper and watch your investments grow while you learn. 

Lots of new investors get suckered into buying D properties that cash flow on paper. 

Still use paper method for mileage logs.Tried QuickBooks several years ago but it was more complicated and I did not need the bells and whistles.