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.

With a HH, you can learn how to analyze properties & markets, how to find an investor-friendly agent, how to spot value-add opportunities at properties, how to engage in a strong due diligence process, how to screen tenants, how to manage the property, how to build a network of contractors, plumbers, electricians and other pros, how to manage the book keeping of the property, etc., etc., etc.

Anybody have recommendations for a cheap accounting/bookkeeping software? 

I learned a lot about the buying process, minor rehabbing process, advertising process, leasing process, dealing with contractors, dealing with tenants, book keeping and tax advantages.

Most of that is bookkeeping.

I have both...a lawyer that is local to my properties that I can call when I need him and we hired Anderson Advisors based in Las Vegas, Nevada that do all of our LLC and trust structures and advise us on tax planning because they have CPAs and bookkeepers in the firm too.

I use QuickBooks for bookkeeping, and T&I has never been a problem.Your monthly payments consists of Principal and Interest, your loan, and escrow, that pays your taxes and insurance. 

Book keeping software?

My biggest consideration is limiting liability, and my second consideration is keeping my bookkeeping and taxes no more complicated than they need to be. 

Hey everyone, I wanted to hear from you all on what help you best when it comes down to bookkeeping.