The tenant moves in next week and I will be doing a unit walkthrough and orientation with him where I will go through the key parts of the lease since he didn't sign it.A couple other things that are different from typical MTR stays:- They are not using my property management software (RentRedi) to pay rent.

If your tax situation isn’t too complicated, you could try handling it yourself using good software, but if you want peace of mind, a CPA could be worth the investment.Since your parents have experience, you might lean on their advice while you learn the ropes.

Hi everyone,Anyone have any recommendations for an accounting software that can handle multiple properties across multiple LLCsfor short term rentals?

There have been a couple software companies in the past but they have moved more towards institutional investor focused than the small investor.

For tasks like asset dispositions and  depreciation, you’ll need more robust tax software, or even better, the assistance of a tax professional.I’d highly recommend you not try to handle this on your own.

(Here's how we keep it all straight.)Project management software (Asana)-> Order of operations-> Responsibilities -> Deadlines-> Notes-> SOPsDaily Contractor Check-in Calls/Texts-> Roadblocks-> Resolutions-> ResultsIn Person Walkthroughs-> Our Property Manager-> My Business Partner-> Our Realtor-> MyselfHow do you drive results for your renovations?

Get a good accounting software to track everything.

By forming a property management company, you could deduct business expenses like office supplies, software, and possibly a home office, which you wouldn’t otherwise be able to claim.

I don’t have any affiliation with them, just thought I’d share as I think it is pretty much as cheap as you can find for paid softwares with good functionality.Payments take several days to process, but tenants can automate them which is nice.

Curious to get some tips from folks that have a larger portfolio (say 50+ units or larger) across multiple MF buildings (so different acquisition dates, financing, etc.) and what software you use?