@Mike RomanoHave a third party bookkeeper and be transparent with all payments and invoices

@Mason Myers, I can't ballpark a cost since my bookkeeping firm doesn't provide tax services but if you plan to grow your REI activities I recommend making a relationship with an REI-savvy tax professional now as you're just starting so they can follow your journey from the get-go.That's what I did as an REI when I was first starting out and it paid off as I continued acquiring properties and needed tax guidance along the way.Once you have more REI activity, a great REI-savvy tax strategist as well as a tax filer will be worth their weight in gold.If you want to chat in more detail about all of this send me a DM. 

There's both bookkeeping and property management features available. 

Make sure you have the following:Greatinvestor-friendly agentsMultiple contractorsto run bids throughMultiple lenders andhard money lenders to quote youA great real-estatespecialized CPA (and bookkeeper)

Complete and honest bookkeeping.

We’re running around to the properties doing various things plus book keeping.

Consider looking for a bookkeeper.

Kinda annoying bookkeeping, but I believe that is how its supposed to be done.  

The AppFolio app that is used to manage the rental property has overcharged beyond the legal 12%many times and the bookkeeping for historical payments from tenants has been doctored to show different amounts and to correct thelmistakes made by the online algorithm! 

Put some systems into place with bookkeeping, maintenance, forms, etc. and learn what your state/county/city requires of landlords.