A bad tenant can be your greatest expense when you factor in the cost of eviction, unpaid rent and property damage.I actually had my rental agreement, application and all related notices already on my computer, our LLC set up, and my bookkeeping system set on Quick Books BEFORE we bought our building.  

He also provides bookkeeping, tax, and tax strategy services which really sets his company apart.

@Austin HughesI would have a bookkeeper cut all checks-have a protocol.

Here are a few: 1) really hard for tracking and bookkeeping which means you won’t scale as easily -- also Venmo has a wIthdraw daily maximum, 2) can’t block partial payments which means hard to do an eviction in some cities, 3) can’t automatically enforce late fees which means you have to be the one checking if rent came in and go ask for late fees if not, 4) takes more time in the long run (When you’re doing taxes or having to remember each month if someone is late, the time really adds up).

I recently starting using Quick Books Self-Employed and loved the features for tracking my real estate expenses. But then I wanted to be able to track expenses from my different rental properties, I saw there is no wa...

Happy New investors!I currently have 1 commercial property and 1 LTR property. As I'm building my portfolio of real estate I'm wondering what the easiest way to set up bank accounts as well as keeping track of tenant'...

For reference, I work full time in a W2 day job in another industry and only spend about 2-3 hours per week average on management, including turn overs, rent collection, book keeping, issuing and paying work orders, etc. 

I have outgrown Excel for bookkeeping and although would love a cloud based program, after comparing applications have decided on QB desktop.Which version should I purchase?

You can also create a Statement of Cash Flows, but like the Balance Sheet, I don't see much use for one in a small operation, but definitely something to generate if you start looking for investors.I do all my bookkeeping on an Excel spreadsheet.

Good idea, get your insurance agent scratching his head about you.Let's make twice the work for our bookkeepers and accountants dealing with two instruments instead of one.