These two focus areas would certainly aid in understanding more of your business, such as tax implications through your various transactions or general accounting/bookkeeping.

If you have the ability to borrow that amount of capital from a single investor, of course it would be easier in regards to book keeping, communication and overall structure.

Let's say, it costs you 1.5K to get your structures in place (holding LLC or Series-LLC, with or without land trusts, with or without separate operations LLC) and 0.5K per year (for maintaining the LLC properly, bookkeeping, lawyer and CPA, etc.) for a total of 2K.

I know you mentioned some things but what will help me perfect “ book-keeping “ I don’t even know how much exact dollars came in from my investments, due to lack of software and such!

However, we’ve acknowledged our shortcomings, and will address them by outsourcing things such as book keeping to qualified professionals. 6.

My question is, on a scale of 1-10 how smart is it to do the following steps before closing my first deal:Getting a virtual assistantBecoming incorporatedStarting a marketing campaign using direct mailCreating a websiteInvesting in software (CRM, bookkeeping software, etc)Thank you in advance for the feedback

I'd recommend choosing one based on your top priorities - for example, some of them are better than others in terms of accounting and bookkeeping, whereas others might be stronger for rental listings or tenant screening.

What is the advantage of this--simply to make bookkeeping less complicated, or does it give some kind of extra asset protection?

Edita,How many accounts you have or need somewhat depends upon your bookkeeping system and your cash management practice.

If your properties are cash flowing and you're making money, then take the burden of bookkeeping off your shoulders.