Every year about this time, we begin shoring up our finances, bookkeeping, and the like.  

That's firmly attorney territory and you should be consulting an attorney if you're interested in mitigating risk.A CPA will generally be able to help you with one or more of the following: tax compliance, tax consulting, and/or bookkeeping, depending on what specific services their practice offers.

I'm still learning real estate math (I also work as a property manager at a commercial real estate firm so I have some knowledge on bookkeeping, etc) but I'm not good enough yet to determine if getting an FHA loan to get a $1,000,000 fourplex in Los Angeles (or surrounding area) is going to kill me.

This question is to those accounting/bookkeepers out there.Lets say I purchase a property for 30k and put another 30k in repairs/holding costs for an all in cost of 60k.  

I also cheat because I have a bookkeeper and a couple of CPAs that knows where everything goes and do my taxes and help with strategies.

@Sajid SayeedI use cozy for rent payment and beaver for bookkeeping and schedule E preparation.

So by using the S Corp, I save some on the FICA as this entity also produces well over $100k annually so it makes sense to pay the $800 CA state franchise tax fee plus the CPA filing fee of the entity tax return (and all the book keeping costs to keep it up to date each month).

Hey @James Horton,What you are asking about would require the new LLC to be structured well and operated with really solid bookkeeping, but the truest protection would be to separate your operations (the DBA LLC) from you asset by keeping them both in separate LLCs.

Hi all,I had a bookkeeping question for you buy-and-hold folks out there.

The Series LLC is also a great tool because you are still working from a single EIN and can use a single bank account to operate those properties with the correct bookkeeping.