@Cameron Tope I also invest in Ohio and am searching for a new CPA, as well as bookkeeping services.

Since you have to report both activities separate, now you do additional bookkeeping to separate what you have combined. 

Recalled he called in the bookkeeper to say "remember I told you just to report the consulting fees".

What advice would you give for making sure the bookkeeping is properly maintained?

Make sure your bookkeeping is top notch when you're dealing with multi multi millionaires Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If you've ever been frustrated by bookkeeping, you can visit https://www.reihub.net to learn more and sign up for a free trial.

Good afternoon, just make sure the business has a bank account and you do bookkeeping for all expenses.

@Gina ShumwayWhat you are asking about is a bookkeeping matter... 

Activities such as: - Searching for possible rental properties - Attending real estate seminars or reading real estate books - Meeting with real estate agents and viewing properties - Meeting with mortgage brokers with regards to getting loans on properties - Travel time to and from the seminars and your property searches - Preparing your bookkeeping and tax information for your rental properties - Time spend buying or selling properties (i.e. signing the closing documents) - Studying and reviewing financial reports (Investor-type) - Preparing summaries or analyses for personal use (Investor-type) - Monitoring finances or operation in a non-managerial capacity (Investor-type) An important note to the investor-type activities mentioned above is that these activities can only be counted towards real estate professional time if you are involved in the day-to-day operations or management of the activity for which you perform those tasks.

Activities such as: - Searching for possible rental properties - Attending real estate seminars or reading real estate books - Meeting with real estate agents and viewing properties - Meeting with mortgage brokers with regards to getting loans on properties - Travel time to and from the seminars and your property searches - Preparing your bookkeeping and tax information for your rental properties - Time spend buying or selling properties (i.e. signing the closing documents) - Studying and reviewing financial reports (Investor-type) - Preparing summaries or analyses for personal use (Investor-type) - Monitoring finances or operation in a non-managerial capacity (Investor-type) An important note to the investor-type activities mentioned above is that these activities can only be counted towards real estate professional time if you are involved in the day-to-day operations or management of the activity for which you perform those tasks.