I build out a contractors file in Notes.

My wife and I have 24 locations in Colorado and Arizona.  21 locations are larger residential properties (up to 16 residents) and 3 are commercial communities. 

Instead I would just need to do the title search first, then once I pay the down payment file a memorandum for the amount I paid them, and then record the purchase and sale contract/land contract with the county so it's on record and clouds the title for extra protection.

@Natalie JohnstoneCalifornia is generally more cumbersome than other states when it comes to taxes and filings.

It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/filesGood luck.

Quote from @Brian L Harris: For AZ,  the best values, with the long term in mind, are single family new homes.

Give your interest statement to CPA when filing taxes for more write off. 

Quote from @Jackson Harris: Hey Lotus,I own a few STR's in Arizona right now that I picked up over the last few years.

It appears TurboTax (downloaded version/Forms) doesn't have the capability to report an exchange of one residential rental for two residential rentals.I am entering this transaction myself through TurboTax, but I would appreciate feedback from the community on the correct forms that need to be filed.

We file jointly, but I want the investing to be my business in my name.