You don't have to worry about how the other guy's taxes have to be prepared - you are not their CPA / accountant / bookkeeper / tax preparer.You are obligated to issue a 1099 for amounts paid at $600 or over, cumulative for the calendar year in which they are paid out.

There are lots of training resources for it.Also, if you ever wanted to hire a bookkeeper, they would probably be used to working with Quickbooks.

Mike M posted in this other thread that he uses Excel, so maybe he'll chime in:http://www.biggerpockets.com/forums/109/topics/54967-rental-cash-flow-book-keeping

You don’t need any licensing to pick up the phone and call contractors or do bookkeeping for the owners.

This millionaire real estate book keeps inspiring me as many of you do too lol.!!

Book keeping, cash flow, sales, inventory, etc.If you're hardset on Economics, I would definately make sure you acquire your degree through the Business college at your University.

IE check book and I do book keeping and filings (5500) etc.  

Prepare by keeping up with your bookkeeping every month so you know how much your expenses are and how high you need to raise the rents in order to operate profitably.The best time to deliver the rent increase notice is right after tenants have paid their rent, when the have put rent out of their minds for another month and it's no longer a matter of immediate concern.Normally any changes in terms of tenancy, including rent increases, require a lead time equal to the rental period.

the Bookkeeping and filing taxes with rentals is not somewhere you want to pinch pennies.

Behind this building is another building that would make two nice private doctors offices, each with a waiting room, a nurses/bookkeeping station and another 6 each examination rooms about another 2,500 Sq ft all together in those two attached offices.