In this document it’ll dictate who is managing, how decisions are made, and how payouts are done.Just as an aside, paying out monthly will I had lots of work to your bookkeeping.

I know that reason why property management companies charge 10% is because they have other costs such as attorney, accountants, book keepers, rent, insurance, ads and maintenance crew meaning that the property manager only gets part of that pie.

I know that reason why property management companies charge 10% is because they have other costs such as attorney, accountants, book keepers, rent, insurance, ads and maintenance crew meaning that the property manager only gets part of that pie.

Or, its own funding stream will cover it and the rest is really just your bookkeeping/accounting.Meanwhile, with what I've described you can't claim any interest deductions from those loans for the LLC's books. 

Knows her stuff and does bookkeeping as well if that's something you need.

@Geoffrey Lau, you'd record the owners equity in whatever book-keeping software you're going to use...it doesn't get reported per-se as owners equity at the time of your tax return, it just gets reported in the general expenses on your schedule c. 

Finding deal, overseeing the repairs, property management and bookkeeping.

Not a lawyer & not legal advice - I know others who use the JV strategy whose partners provide bookkeeping & accounting services, construction & asset management, and other similar services as their active participation.

As far as tax and accounting, I now have my own business that does this, but initially I did my own bookkeeping I can tell you you may be offer services you don’t necessarily need for those kinds of numbers you mentioned.

Some bookkeepers like myself offer training that is tailored to your business.