Totally doable if that sounds like something you're willing to do.If you were looking to go that route, I'd recommend getting a Customer Relationship Management (CRM) software to keep track of leads and follow-ups.

We are currently in the final stages of an AI driven software that is going to essentially allow us to manage co-living properties effectively, without any of the staff or operations typically needed by rental properties.

By forming a property management company, you could deduct business expenses like office supplies, software, and possibly a home office, which you wouldn’t otherwise be able to claim.

I've recently started building a software application that allows for behind the meter aggregation for both electrical and gas utilities.

The software allows me to generate custom reports on my rental income, expenses, and overall performance.

There have been a couple software companies in the past but they have moved more towards institutional investor focused than the small investor.

If your tax situation isn’t too complicated, you could try handling it yourself using good software, but if you want peace of mind, a CPA could be worth the investment.Since your parents have experience, you might lean on their advice while you learn the ropes.

(Here's how we keep it all straight.)Project management software (Asana)-> Order of operations-> Responsibilities -> Deadlines-> Notes-> SOPsDaily Contractor Check-in Calls/Texts-> Roadblocks-> Resolutions-> ResultsIn Person Walkthroughs-> Our Property Manager-> My Business Partner-> Our Realtor-> MyselfHow do you drive results for your renovations?

For tasks like asset dispositions and  depreciation, you’ll need more robust tax software, or even better, the assistance of a tax professional.I’d highly recommend you not try to handle this on your own.

Apology for multiple posts - a forum software glitch apparently