Some times, investors use a non-disqualified person or bookkeeper to hold retainers for both parties and make check writing easier.

Your accountant will thank you for it, plus if something goes wrong in your book keeping you automatically isolate the problem to just one property instead of your entire operation.

It took me 6 years to buy my first rental but I started studying real estate investing when I was 20 and wanted to wait until I was well informed, confident, in a financial position to do so, and found the right property I felt somewhat comfortable buying.I have owned that property for over 10 years now and I am glad I prepared myself with good knowledge of screening tenants, taxes/bookkeeping, rental laws, purchasing rentals (multi unit), contract law, and my local market for sales prices and  rental rates before I purchased it.

Servicers do all that paperwork and bookkeeping for what is, IMO, a minimal fee.

You can ask him the following:Accounting- what is your bookkeeping software?

Found out I have to first file an amendment to my SD401K document to allow for an in-plan Roth conversion.In respect to bookkeeping of Roth money, all I have to do is to segregate that into another bank account under the same LLC.

The divisions would be:-Acquisitions -Sales-Project Manager-Office Manager/ Marketing -Property Management-Financial (bookkeeping and securing finance)I plan on taking one department on at a time and have roughly defined job duties.

It doesn't have to be a TPA for that stuff, your own accountant, bookkeeper or other business specialist could do it.

But now we are again talking about opening one LLC per property, what might prove to be extremely expensive, not to mention the extra bookkeeping...Thanks again for the input!

Do you have any bookkeeping experience?