The best thing to do is to hire a good tax accountant, bookkeeper, and attorney (helps if they are also savvy about REI so they can provide that prospective) to make sure you are doing things properly.

I own two businesses and I hired a bookkeeper to work on my books and still have not filed taxes for 2016.

Another few things that come to mind are bookkeeping and keeping track of finances as well as even how you organize the overall business.

My other question is does anyone have any recommendations on a good book to help me learn bookkeeping basics specific to rental properties?

Most will not even do just the bookkeeping for that cheap. 

If your property management company doesn't handle your bookkeeping then you will need to.

That helps for book keeping and Depending on what kind of LLC you have (single member, multi-member, etc) and how you use your LLC for tax declarations, it can lessen the chances of you being audited by the IRS.My rule of thumb is that I don't want to keep enough equity in my LLC to make me a target for a lawsuit.

I treat the LLCs as "disregarded entitys" for IRS purposes so no more book keeping needed.  

Major in finance/accounting so you will have a leg up on other investors as far as book keeping and taxes go.

This way, your CPA does not have to manually type in each record and he only has to make a few minor changes to your Excel sheet and he can dump your records into his database.If you don't know how to do what I explained then expect to have many errors in your records that nobody can ever find and expect to pay more than $3,000 for a good CPA.I develop all my own software with MS Access 2003 and I am a very strong believer that the reason my businesses have been successful is because my bookkeeping, payroll processing, customer data lists, account receivables and many other facets of my business is so streamlined where I had as many  as 60 employees, did up to $7 million in plumbing and construction business, own real estate in several states and I never had more than 1 secretary who worked more than 20 to 30 hours per week and our records are accurate-to-the-penny.