I was more looking for training on how to do book keeping, and maintaining a functioning budget. something that teaches you to be able to identify where every penny of your money is either coming in or going out.There is always the chance that I'm overthinking it but I don't think so lol.

If you are buying with cash or bank financing, for the most part the depreciation is the same but you will have more complicated bookkeeping.

Well he doesn't just work with investors, he is an investor himself, and he understands that world.We use him both for our personal taxes, as well as bookkeeping and tax work for Nest Realty.

Does anyone know of a good and affordable bookkeeper/accountant in the LA area that understand the real estate development/flipping business?

However, I am a one-man-band currently and bookkeeping became a nightmare.

50/50 split - we each fund the business with an equal amount of cashI handle marketing, evaluating and finding deals, offers, financing, bookkeeping, taxes, legal and adminHe handles everything hands-on: initial rehab and (if it's a BRRRR) finding tenants, maintenance, collecting rent, evicting tenants if needed, etc.We are starting to talk about fee structure for the major items of the deal.5-10% (of rehab cost) project management fee for rehab - would go to him3-5% (of purchase price) acquisition & setup fee for each new acquisition - would go to me8% of rent collected would go to him for hands on aspect of PM2% of rent collected would go to me for managing bookkeeping, taxes, legal, and adminAfter paying fees we would split the remainder cash flow and equity 50/50We can each take owner distributions at our discretion but need to maintain a minimum cash reserves (say, $10k per property)Exit strategy: we have talked about outlining a few options for exiting the partnership. 

Explain that multiple payments leads to more accounting and bookkeeping costs and collection procedures and throws everything off.

I am thinking 8 plex or more new entity would be good... please share your thoughts.Also, more entities would be annual fees, book keeping expenses, accounting and IRS filing accountant expenses etc.

Cash flow will be higher but will be offset by more bookkeeping and weekly collection costs.The key is the immediate capex a property needs going in which is additional to the 50% or 60% ongoing cost projections.

- I have systematized a lot of bookkeeping tasks by using memorized transactions (when possible).- I have created an excel based rehab budgeting tool that we use to develop our budget when we have a property under contract.