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.

But this would significantly complicate our bookkeeping.2) I want to keep closings in and out of the deal as inexpensive, simple and quick as possible.

This is not only to track my personal results for a better bookkeeping, it's for all those who may be stuck.

And First month's rent will go to my PITI and the rest cashflow I will split between reserves and giving myself a little payout to enjoy.BUT, how do people choose to handle last month's rent on your own bookkeeping/accounts?

There are other costs for the GC in house that will need to be taken care of as well - bookkeeping say - that without being paid for would hamper the GC's ability to get the job done and that may ease some people into the deal.

@Calvin Ruth I was thinking the same thing Calvin, but don't forget to take the vacation with what  you have saved in time, attorneys fees, yearly LLC fees, additional bookkeeping fees, additional insurance costs, more, more.

For people on your team I would recommend getting a bookkeeper, a marketing manager (someone to handle mailer, craigslist, SEO, bandit signs, etc), a property analyst (someone to run property comparisons and send out offers), and depending on how many incoming calls your getting, you may want another phone buyer.