However, we’ve acknowledged our shortcomings, and will address them by outsourcing things such as book keeping to qualified professionals.6.

This includes mowing the lawn and snow blowing in the winter, rent collecting, and bookkeeping. 

Have an accountant do the book keeping and accounting (keeps all the money neutral.)   

You may be able to operate it at a 12 cap if you were to run it by yourself, but things you may not consider that your investors may want that you have to account for our quarterly reports on progress, a bookkeeper to keep track of finances and provide oversight and the ability to call you whenever they want.  

You will want to have: Realtor, Banker, General Contractor, Electrician, Handyman, Landscaper, Painter, Sheetrock, Carpenter, Roofer, Lawyer, Estate Planner, Bookkeeper ect.... 

Get a book keeper, CPA and a good lawyer.

If it's not your full time job, you would have to factor in the cost of hiring a management company, or at least a book-keeper and super or maintenance person for the day-to-day tenant needs and to manage all of the common areas.

Now, I want to be proactive about the bookkeeping so that I don't have a nightmare at tax time.

But with basic company management and bookkeeping, the hurdle to pierce the company veil is very high.I would suggest the latest book from Garrett Sutton, Veil Not Fail: Protecting Your Personal Assets from Business Attacks, that goes in detail into the errors not to make to avoid piercing the veil.Anonymity is also recommended to avoid ambulance chaser attorney finding your assets.I have seen in this forum a lot people complaining that it was not worth it as in a lawsuit you have to disclose your assets.

I also handled all the bookkeeping/bill pays so the partner had a 100% hands-off turnkey investment experience.Wholesaling is a great starter strategy as many have suggested to you, but you can buy and hold by using partners or private financing to do deals.