Since I'm only at 1 property right now, bookkeeping should be fairly simple.

In the tech stack section they break down options for property management, bookkeeping, and project management.

As a bookkeeper I see many clients be overly optimistic and not set reserves for this

Our virtual bookkeeper has folks on Stessa, Quickbooks, or REI Hub.

. - Stay on top of your bookkeeping.

The way my bookkeeper has it set up now is for my CPA more than it is for me.

Would love advice on how you all maintain your bookkeeping, yearly filings, meeting minutes, etc.

Until about a year ago we were using a bookkeeper to manage our books in quickbooks.

Nothing is truly "passive" and a big misconception with new folks wanting to enter the real estate arena.For example, just bought a 6 unit using leverage and trying to secure a loan was a disaster of a process.I can only imagine what others have to go through on every time they purchase a property using leverage.But then again, I'm bias to the "cash only" approach.The constantly changing conditions, terms, keeping tight bookkeeping records and tax returns in order and regularly manipulating the BS credit score algorithm.Placing good tenants is more a skill then hope.It took me 10+ years to fully wrap my head around using leverage the right way and being able to "manipulate" the system to get better rates with a quicker turn around.Keep being great thanks for your reading and replying to my comments 🙏

This is more of a general bookkeeping post, but you may find some similarities and things you can use You can do this manually with five file folders, or a press board classification folder.