Keep electronic copies of your invoices and receipts and make sure your are running everything through a bank account designated solely for the rental.

About 300 Add 100-150 for distance, rural areas, extra square feet, or rent schedules Add 150 for lender buffer for unknown complexities that add cost In the end, borrow gets a copy of the invoice directly from the appraiser and only pays for what is invoiced to the lender

I invoiced them $800, and then charged the invoice off to bad debt so I could claim the loss on my taxes.We have since upgraded our tenant pool, and now do meticulous documentation of move-in/move-out condition.

Posting this invoice just for fun and as a reminder to myself of investment mistake #20 or so. 

If invoices are paid by January 25th, they should be collecting fees and preparing everything for a payment on the first business day of the following month.There's also no reason to give the tenant the entire month to pay rent.

We have the invoice from the guy who did the "repair" and it was like $50.

It's no different than your neighbor bragging how he got the dealer to come down to $5k under invoice on some car, when the reality is that he probably gave his trade in away for a dollar. 

You would need to check with your CPA.Whether or not you use a property management company, and whether or not you have a business set up, keep records of all your income (rent receipts, deposit statements, etc) and expenses (invoices from maintenance companies, payment of taxes, etc.).

We have our bank account set up where we can accept payments from PayPal, Square or send them an invoice through our bank account or web site or square.

I'm guessing you could pay them a W-2 salary, or they could be an independent contractor and paid a commission or invoice their charges each month.