Negotiating a lower price to account for these issues could be an option, but if they’re not flexible, it may be best to explore other opportunities.Happy to connect if you’d like to discuss further!

To make taxes easier we set up a business checking account and had all the rent paid into that account and all the expenses paid out of that account.

They'll expect electronic payment options--easy open a landlord account at your bank and give routing number and account number to tenant (ACH payment). 

(End)Unfortunately, HOAs are often ran by individuals who are not the most knowledgeable on regulations, accounting practices, and more - and property managers do not want to intervene for fear of losing the contract. 

There are 20+ CPAs and accountants on this site that specialize in real estate taxation.

You’ll need to treat it like a business—handling tenant management, accounting, legal compliance, property maintenance, and more.That said, when done correctly, it’s a powerful tool for building wealth!

They should pay just like someone on a regular lease pays - cash or equivalent into your bank account. 

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Transferring the domain, website, and social media accounts was kind of a pain in the butt, but once it was done there is not much time or effort needed on my part to operate the website.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.