You also need to have proper bookkeeping, separate account, and proper operation procedures to avoid piercing its veil.Taxwise, these structures are tax neutral and could even not require any other tax reporting if your WY holding is disregarded for tax purpose.However, you can also improve the basic structure by adding some other features, like a management corporation in the middle, that can offer you some tax advantages and ancillary benefits.Also, when creating such a structure, it is often recommended to have estate planning in mind as it is easily incorporated in it.So ideally you would like to talk to an asset protection, tax, and estate planning attorney as all three fields should work together to make a comprehensive solution.

Hello, any recommendations for a real estate bookkeeper in Columbus Ohio? 

Are you looking to have your bookkeeping done or are you also looking to have your taxes done as well?

For bookkeeping/ tax purposes: if you replace an A/C unit and hot water heater does it get categorized as a capital expenses or repair cost?

There's bookkeeping compliance such as filings and filing fees and minutes that need to be done each year.

totally understand that investors want to use something free, but as you may know, after a some time passes, they will have paid features and sometimes the basic features that you use become paid.My recommendation is find an accountant/bookkeeper to do the main work for you and you might end up paying a little more upfront but you will save money when it's time to file taxes.

With some round about bookkeeping on the site I was able to correct, but wish it was a bit simpler. 

I recommend you hire a bookkeeper early, thats a little more involved.

Otherwise we use QuickBooks online for all of our bookkeeping.

Have a good accountant, bookkeeper, and use the right entity for the project that you are working on.