@Voltaire LepeBookkeeping is used to keep track of the performance of your business(in this scenario real estate).It will tell you how well your rental is doing over a period of time.There are many softwares available, of which quickbooks is the market-leader.Alternatively, if you prefer not to do your own bookkeeping, you can hire a company to do it for you.

If you guessed D then you are right!
You usually can’t depreciate your primary home or vacation home if those properties don’t generate any income.
Even more interesting, if you are a real estate investor, in a...

Obviously, the more entities, the more cost and management/bookkeeping headaches as well. 

Current Top 5 Bookkeeping Tips1) Hire a great CPA (you’ll need a tax return filer, tax advisor, etc) and eventually a Bookkeeper once your business can afford it.

While advances in technology are nice, sometimes you just don't need all of them.Certainly bookkeeping/accounting is necessary. 

There are quite a lot of inexpensive property management apps that can make your life and bookkeeping a lot easier.

QB is for bookkeeping.

As well as having it set up correctly [which may be more time / cost effective then attempting the setup on your own].If  you  use a bookkeeper, realize that they consider the work that they have done on your books as their property and not yours.

There is the pain of physically collecting but also it takes more effort for the bookkeeping than direct deposit. 

You will also incur annual higher book keeping costs.