@Account Closed You are 100% right.

Keep receipts for all your expenses for federal taxes, keep the deposits in a seperate bank account. 

I understand annuities, bonds, bank accounts but bitcoin?

A good real estate accountant can save them thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend that they find a tax accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend that they look for a accountant willing to work with them throughout the year, who can help them strategize and who is responsive when they want to know the consequences of the financial decisions they are making throughout the year.Good luck.

A property manager should always account for both income and expenses—you’re the owner, and you have a right to see exactly where your money is going.It almost sounds like he thinks he’s doing you a favor instead of working on your behalf.

Last piece of advice is to surround yourself with quality service providers (real estate brokers, lenders, accountants, attorneys, PM's, Contractors, Insurance Brokers)., They will be instrumental to your business. 

Make sure to discuss it with your accountant.

Some people love it, some people hate it.Benefit is once you get on the program the government direct deposits into your account. 

These typically account for about 80 to 85% of all expenses in a flip.If you know the lenders' terms and the loan duration, lender fees, the second greatest expense, are easy to calculate.

Beyond real estate investing, BiggerPockets Money has great episodes on how to avoid the middle class trap with your investments - ie how to structure your investment best so that they're not all locked up in accounts with penalties until you're 65.