Also the sophistication level of smaller residential property investors is not at the level that you could count on their calculations of a cap rate if they chose to do so, Much better to look at GRM of similar properties.

It seems like everything is so focused on payroll, when I really just need a simple revenue/expense journal entry feature.

@Raymond Mackay I'm by no means a sophisticated investor yet.

I may keep her on the payroll at a lower rate, just to cut the grass, do evictions, so I won't have to lose a days work and to yell at the tenants when they are misbehaving.

Just depends on your sophistication/risk tolerance and how good a deal.Good luck.

(Personally, I don't think this is the best approach for the small mom-and-pop investors because this assumes you consistently reinvest the returns earned into other deals almost immediately and I don't think most of us are sophisticated to do this.)Then if you are looking at a cash-on-cash return, when are you okay with it starting to pay out?

We've also got to be clear that this is only considering federal income tax and not payroll taxes (or self-employment taxes) of Social Security and Medicare; of which Social Security is 12.4% (up to $117K of total earned income) and medicare of 2.9%.For more information about self-employment tax burdens see: http://www.irs.gov/Businesses/Small-Businesses-&-S...Once again, this would be a great topic for a tax professional.

Any cash that you want to take out is taken as a Dividend, which is then taxed again at the individual level after it has already been taxed at the corporate level.Finally, any sales gains are taxed at regular corporate income rate, not at the much more favorable capital gains rates for individuals.In a subchapter S Corporation, you can preserve the nature of the transactions similarly to in an LLC and keep deductible passive losses and capital gains, however with an S-Corporation, you have an added layer of needing to pay a shareholder a reasonable salary, so you're adding in payroll tax expenses and a layer of complexity.Additionally, I'm not so sure about your statement of a buyer guaranteeing a loan for the corporation but not having it show up on their credit.  

Of course as time goes on and you become a more sophisticated investor, there absolutely is a place for targeted seminars and coaching that will teach you about more advanced areas of REI such as syndication or non performing notes, but that isn't necessary for basic bread-and-butter single family rental investing.Kiyosaki does offer some helpful videos that are available for free on YouTube.  

Would it be better to just start a corporation and hire a payroll leasing company ?