The challenge with your approach is that you're calling the reviews from honest people on this thread (with real experience) SPAM WITHOUT having any evidence to support your position.

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?

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........ .."

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.

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

They ended up selling for a healthy six figure profit.I agree with @Nicholas Coulter.

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.

Don't use this approach.

So a healthy buffer, and then from there they'll be working annual increases in that range I mentioned before.