I would HIGHLY recommend getting a book keeper who is a REI or is an expert in REI.

I use TenantCloud for management and Stessa for bookkeeping.

We don't provide tax services (just bookkeeping/CFO) but are huge fans of receipts in all circumstances just in case...

The key to having great financial systems is the setup and systems: If you get everything structured properly up front, you avoid most of the ugly problems many RE investors face later on.I'm not an accountant nor a bookkeeper, but I have great recommendations for both!

He took depreciation on the prop, claimed the kids I’ve had primary custody of, and likely pocketed the returns.I am in the process of trying to engage a communicative/experienced accountant to assist in cleaning this mess up asap and fortunately our amazing bookkeeper of approx 8 years is very knowledgeable and responsive.

Would anything happen if I just collected the money to pay the mortgage with no real book keeping?

This will keep things cleaner for bookkeeping and for when tax time comes around.

Have just hired a bookkeeper and at first she questioned having so many accounts but is now finding it a simple way to deal with the complexity of the fact that I have 7 properties and in keeping track of everything.

I am particularly interested in sharing know-how's on residential real estate, rental laws, book keeping practice, and property management best practices.

The team is based in Bolivia, Argentina, Honduras, and Pakistan.All agents are paired with a supervisor and trainer to offload a lot of the day-to-day responsibility and management from the operator's sizeThe agents help operators set up a 24/7 front desk team (Guest services/communications), manage overnight emergency shifts, create and optimize listings, revenue management, dispute negative reviews, manage Airbnb claims, in-house vendor management, bookkeeping & sending owner statements, manage collections, digital marketing, and other back-office tasks.Nonetheless, happy to chat.