I concluded yesterday after talking to a knowledgeable attorney and tax CPA $5-10K is about what I need to get the team of professionals(including a book keeper and knowledgeable insurance agent) that has creditable experience in real-estate.

50% of my work time is looking for deals, 30% is strategy/planning, 10% is bookkeeping and 10% is dealing with day-to-day issues that come up.

Jeffrey Rittenour it's always important to have accurate bookkeeping and document retention.

My parents ran a very profitable rental business for over 40 years,, they were meat and potato style apartments that were always full, they did all their own work, mowing, shoveling, painting, court filing, rent collecting and bookkeeping..

.* At what point was the administration of it just too much, where you had to hire someone to help with bookkeeping?

Erin Michelle Phelps Send me a Pm and I can join you up with my book keeper who is awesome at quickbooks

, no bookkeeping/accountant fees, no legal fees (ie, evictions), assuming you will have rental inspection/licensing fees.

What you'll find is that not only do business entities provide plenty of advantages over and above helping business owners act unethically, but in many cases, unethical behavior is not protected by the corporate veil.Business entities help create tax advantages, they help protect business owners from unscrupulous customers, they help business owners provide benefits to employees, they build a layer of trust into a business relationship, they help make book-keeping easier, they help business owners from inadvertently commingling funds, etc.

You mention your P&I payment is $1200- what about taxes, insurance, maintenance, repairs, vacancy costs, bookkeeping, etc.?

hello,i was wondering if any one had any experiences with or recommendations for CPA's or certified bookkeepers who are proficient in RE taxes/laws in the NJ area?