The cost on money, paperwork and book keeping (you never know how bad this is until you've done it).Sometimes a homeowner will buy a material that is pain to work with and it will take twice the time... but it was 10% cheaper than the good stuff.That's one side of course.

You can always just hire someone to do the setup and then do the bookkeeping yourself if you are brand new to the real estate world.

I use quickbooks for all the bookkeeping. 

@Chris MuryMy stack looks like this at the moment YourPorter (which my book keeper has access too through QBO integration AirBnB Pricelabs Vrbo In that order.

Even if you have a book keeper, you need to keep track of those payments to give them regardless. 

Our bookkeeper is great with Quickbooks online and really understands our business well after years of working together.

The PM makes a small percentage to offset the bookkeeping efforts and management of the repairs process. 

Hello BP:I am in the process of trying to streamline my book keeping process from my real estate investments.

IMO, you get what you pay for - - hire a book keeper and that's what you get.Want a professional that has a license to protect, hire a CPA.There's nothing special about RE accounting and if the person you're talking to can't tell you the class life of appliances vs the property itself -  W A L K (no run) away.I hate accounting, but it's possible to use the depreciation tables and file the 1040 and the Schedule E for yourself, but it's not recommended - - you become the book keeper that should not have been hired :giggle:

However, it falls flat when it comes to bookkeeping/accounting.