But again it seems just to be bookkeeping.

Payroll, bookkeeping, etc can mostly be done remotely.Here is a great list of questions to ask a potential accountant:http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpaAlso check out the www.NAEA.org page in your search.

The Partnership LLC would then issue K1s to each S-Corp quarterly as needed.To acquire another property, both S-Corps capitalize the Partnership LLC, the Partnership LLC acquires the property and the process is started over again.Then what each of you can do is take a reasonable Salary from your S-Corps, form a sponsored 401k for each S-Corp and deposit the max allowed per the plan with company sponsored funds and what ever is left take as a dividend which will save you both on your taxes.It's always a good problem to have...but draw out a plan with the proper professionals and have a strong book keeper who also does payroll to assist you.Good for you both!

Payroll, bookkeeping, etc can mostly be done remotely.

@Steven Harri-Das If you are not an accountant, and you are seriously interested in seeing your client succeed, I would highly recommend that you discuss with him the benefits that come with hiring a bookkeeper/CPA and explain to him why it's a smart move. 

For a long time we have done our book keeping in excel.

Hi, I'm trying to estimate how much the management fee and regular maintenance (snow plowing landscaping ) for a small shopping center in New Jersey about 15-20 retail stores so we can get to the real NOI with our own numbers, owners bookkeeping isn't best Thanks Any help is appreciated Izzy

What is a simple book keeping system

Plus, it’s much easier to manage one property with multiple tenants than to manage multiple properties with one tenant each.But, even with a property manager on board to help with your rentals, bookkeeping, strategic decisions, and maintenance/repair costs are still your responsibility.

Did you know this tax breakdown between flippers and landlords? I didn’t until I personally experienced it and later read The Book on Tax Strategies for the Savvy Real Estate Investor. I highly recommend this book (...