.,) and use QuickBooks for everything related to accounting/financials.

Failing to budget correctly for repairs or not accounting for unexpected expenses can cause you to go over budget.

If so, follow the lease and post the charges to their account or something.

It has an accounting section where you can log expenses and earnings

I am looking forward to connecting with fellow lenders, accountants, and real estate agents to get more perspective and build my knowledge on real estate so that I can start to build wealth in my mid-20s and onwards.

Do you favor a Roth IRA, high-yield savings account, or life insurance as an investment tool?

I have been investing in Michigan since 2014, we have many areas that still exceed the 1% rule and have annual appreciation.

Feel free to reach out with any accounting questions.

Out of 2,500+ investors we have as clients, only a small handful invest as an LLC.I could see the point to an entity if a group of family members or friends were pooling their money to invest in a syndication or several syndications, but outside of that scenario I don’t see the point to it.But don’t listen to us, get competent legal and accounting advice from those licensed to give you proper advice after evaluating your legal and financial situation and risk tolerance.

One comment for other owners make sure you know how to get your annual rental increases.