Payroll, bookkeeping, etc can mostly be done remotely.Here is a great list of questions to ask a potential accountant:http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpaAlso check out the www.NAEA.org page in your search.

Brother J ScottIt sounds like hydrogen sulfide in the ground waterGet your water tested.Google "water testing labs" in your cityFiltration systems help.Some are simple and cheap ,some are sophisticated but cost a bit morePeople should be filtering their water in any case in this day and ageHope this help JDD in Los Angeles

"Taking over a loan" is a sophisticated strategy.  

@Allende Hernandez,Your fix and flip business will still pay payroll taxes on all "salary" paid to yourself and to your wife.  

It really depends on how sophisticated you want your reporting to be and how versatile you are with Excel and its abilities to analyze and show data (visually).

@Ellie Hanson, David ParlierThe profit on a flip property is ordinary business income (not capital gains) taxed at ordinary income rates in addition to payroll taxes (Medicare and Social Security).

I say effectively because mom and pops usually dont put these guys on the payroll full time.

I am not a sophisticated owner, and get quotes to keep folks honest.

Payroll, bookkeeping, etc can mostly be done remotely.Here is a great list of questions to ask a potential accountant:http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpaAlso check out the www.NAEA.org page in your search.

Or, click on the "Advanced Reply" for a more sophisticated editing screen.