(Since you asked specifically about bookkeeping) For us, we use one tool for rent collection only (currently apartments.com because of the cozy acquisition) and another (QuickBooks online) for keeping the business books.

Many investment firms bought interest cap rates last year when they purchased multifamily properties last year in response to the increasing interest rates because they use variable bridge debt. When the variable rate...

But I was planning on using a separate software for bookkeeping and accounting.

The reality of running their own marketing, prospecting, administration, book keeping, etc etc etc, hits people pretty hard and they perform poorly in one or more areas and ultimately fail.

for us its not about the bank accounts but we have a bookkeeper keep things in different classes and breaks out who gets what etc.

I'd say for many people there is a place for each function, just as there is a place for a bookkeeper, tax planner, and CPA. 

They included book keeping expenses, tax preparation, umbrella policy, rental tax, any utilities that due to property related issue should not be tenant's responsibility (slab leak being primary example), any legal fees for consultations (I had ~$10K in legal in the past year), etc. 

From here you can subtract out other costs like:Water, Refuse, Taxes, Insurance, Snow, Lawn, LEASE UP, book keeping, etc to determine your Cash Flow

If you are not comfortable doing your own numbers, then you should by all means arrange for bookkeeping services.

My bookkeeping clients do not do this when they own multiple properties.