Investors that are not incorporated publicly have no accounting requirement, except as required for taxes which doesn't require a certain method.Real business owners follow Generally Accepted Accounting Principles (GAAP), your bookkeeper or account will even if you aren't a public traded company.

50/50 split - we each fund the business with an equal amount of cashI handle marketing, evaluating and finding deals, offers, financing, bookkeeping, taxes, legal and adminHe handles everything hands-on: initial rehab and (if it's a BRRRR) finding tenants, maintenance, collecting rent, evicting tenants if needed, etc.We are starting to talk about fee structure for the major items of the deal.5-10% (of rehab cost) project management fee for rehab - would go to him3-5% (of purchase price) acquisition & setup fee for each new acquisition - would go to me8% of rent collected would go to him for hands on aspect of PM2% of rent collected would go to me for managing bookkeeping, taxes, legal, and adminAfter paying fees we would split the remainder cash flow and equity 50/50We can each take owner distributions at our discretion but need to maintain a minimum cash reserves (say, $10k per property)Exit strategy: we have talked about outlining a few options for exiting the partnership. 

Looking for a great bookkeeper that understands rental properties. 

Our company Full Court Property Management is looking to hire a book keeper / Accounting Clerk with Real Estate Development Experience.

Any accountant or bookkeeper will be familiar with it.

I need a good bookkeeping software and any advice you guys have regarding that?

His program is very good value for the buck.https://iralawyer.com/product/the-real-estate-investors-kiss-guide-to-bookkeeping/

You still have be a great fair and responsive landlord, have strong liability insurance, perhaps even a commercial liability policy, keep airtight bookkeeping and accounting to really limit your risk.

Makes it easier to process the payment and bookkeeping.

You'll need something separate for your business bookkeeping but Buildium handles everything fir the properties you manage.