By the way, credit card expenses count when charged, not when the credit card bill is paid.Buy more stuff.

As a self proclaimed rookie, I recommend starting by conducting your own initial assessment of the property.

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.

I just was on BP's Real Estate Rookie podcast and talked about the small and mighty game plan. 

We talked to our accountant and she was recommending individual LLC's as well as individual checking accounts/credit cards etc..

If I ever brought any of them a deal by.a rookie investor in a market they do not know, with work performed by a GC that has 0 relationship with the investor, they would laugh at me.PML is not just Potsy from Happy Days. 

Any suggestions for rookie investors on how to get into those niches without being fully exposed to the high risks?

I use Stessa for accounting, I love it, it links right to my bank account/credit card accounts and I can assign purchases to different properties and units of the property for multi-unit properties and at the end of the year I have a simple report to give my tax professional 

By the way, credit card expenses count when charged, not when the credit card bill is paid.Buy more stuff.

We have several rentals and a set of business cards associated with each one.