Instead, I should:Record the net rent (gross rent minus PM fees and expenses) as income in QBO.Log any additional expenses I directly pay, such as mortgage payments, insurance, property taxes, and other business-related costs like gas for business travel, meals, business licenses, and office supplies.Does this approach align with the correct practice of differentiating property accounting from corporate accounting?

Many seasoned investors bolster their liability protection by using a layered approach.

I’ve started putting everything to Inventory, but don’t have a ton of transactions yet, so I figured I still have time to change my approach.

Your approach shows promise.

It’s important to note that if an outside property owner approaches you for management services, you must be licensed as a broker to comply with regulations.

I thought i would be buying real estate  that already existed. how would you approach investing in this yet to be built projects?

Makes sense about just talking to them / asking them directly, and that's helpful to get more perspective on how you might approach reviewing credit.

We can use AI that summarize the answer from all 10+ years discussions.I alwasy ask something like this AI prompt "In biggerpocket site, what's the recommended approach when........ .."

@Joe Derobertis Thanks for sharing your journey and the thoughtful approach you’ve taken toward real estate investing.

If you are stretching yourself thin, then the HELOC approach may not be best.