OR regulations require that all utilities, methods, and how the provider is billing is required to be outlined in the lease (or bill if resident's are receiving a rent invoice).

A CPA would charge you at least $400 - 500/month to collect invoices, pay bills each month, and email you a report.A property manager is on call 365/24/7 (even if the phone doesn't ring, they are still responsible) and basically serves as your marketer, secretary, accountant, attorney, maintenance specialist, tenant babysitter, and strategist for your investment that's worth at least a few hundred thousand. 

Year one maybe you don't raise rents but push the water and garbage bills back on to the residents (direct bill on their invoices for services) and then raise rents thereafter. 

If the deductions amount to more than $125.00, the landlord must attach copies of any invoices or receipts to the itemized statement.

They also need to provide a deleaders invoice which shows the cost of the job, what work was done, and all their license info.  

This way you can pay your rehab expenses and then send the invoice to your lender without the need to have the capital

If your Schedule E shows repairs that are considered one time or long term capital expenses such as HVAC, Roof, etc, and you can document it with invoices, then you should be able to add them back like depreciation amongst other things.

So yeah, even if you like the guy and have good reviews on them, try to hold them accountable and make sure to properly track expenses and have them send any invoices to you the day they buy the stuff.

Enter a maintenance request, assign a vendor, attach a fake invoice.

I have always created invoices to receive rents in QB Online.