If you have more than one LLC, each LLC should have its own set of accounts.Checking: Collect all income here, then use it to pay bills, the mortgage, or maintenance.

For rent collection, my clients use Azibo.

They notified seller and tried to collect the deposits from the seller.  

Even though they didn’t collect enough to cover the total $35k loss.) and a week later I walked the property to confirm I was happy. 

As a general rule, it's best to learn how to handle problems before they become problems. make a list of the potential problems you could face as a landlord: rent rates, marketing, collecting deposit, late rent, unpaid rent, abandoned rental, early lease termination, unauthorized pet, etc.

As a general rule, it's best to learn how to handle problems before they become problems. make a list of the potential problems you could face as a landlord: rent rates, marketing, collecting deposit, late rent, unpaid rent, abandoned rental, early lease termination, unauthorized pet, etc.

The biggest winners are the lawyers, collecting their standard 30-40% fees lol. 

I encourage others to share their experiences and strategies as well, as collaboration can lead to collective growth and success.

Their scope just includes the properties they are managing for you.So, whether you continue doing it yourself or hire a professional to do your books, you'll need a "master" accounting platform that collects all property-specific transactions as well as non-property-specific transactions (general business) into 1 place.

Many of them will jump into property management, thinking they can retain clients and earn some easy money by collecting rent checks.