But for anyone who just has rental properties that they report on a 1040 tax return (not in a partnership), I would suggest considering rental property management software rather than general accounting software.  

Start small with one property, choose a strategic location, stay transparent with lenders, and ensure tax compliance.

Here are title cost numbers from my last deal in Lake Oswego ($625k sales price):Title agent fee: $1100Owner's title policy: $1425Recording fee: $350MERS: $25There may be transfer taxes depending on what county the property is in, as well.Chris

If you have any due- plexes, try-plexes, four-plexes or mother in-laws, please reach out to me.

The numbers for investing in Detroit look promising, but I am hesitant to proceed with purchasing a property and accepting Section 8 tenants due to the long delays in rent payments.There are many Section 8 voucher holders looking for homes, and many tenants have shared horror stories about their previous landlords.

Your accountant will need to know this as there is tax implications.

Most start by analyzing deals and forget the fundamentals of every business, like getting a Tax ID, bank account later, Business Credit cards, and lines of credit.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Something that will work in one market will not work well in another market due to maybe oversaturation, consumers, and anything else you can name.  

A safe baseline is 5%–10% for vacancy, with C class properties often leaning toward the higher end due to more transient tenant populations.As for maintenance, the percentages they’re quoting—2% for B class and 7.5% for C class—are on the optimistic side, especially for long-term projections.