Taxes, book keeping, advertising etc.

The funny thing is that I work part time as a bookkeeper for a property management firm.

I have a background in bookkeeping, and worked as an executive assistant to a private investor that was involved with Commercial Real Estate and REITs.

While either can be easy or difficult to manage, differnt kinds of problems, it's the personality of the tenant, IMO.IMO you should spend no more than a couple hours a month on actual management per unit, a phone call, collection and bookkeeping and coordinating maintenance.

Taxes, accounting, repairs, property management, bookkeeping, chasing insurance or property tax issues, finding reliable handymen, rent collection, bill paying, etc.

Totally forgot to figure in a manager's and bookkeeper's fee!

You might want to have your accountant or bookkeeper review your books on occasion and send you a nominal bill, which should be paid by your plan.Jeff

., getting insurance, and bookkeeping.

No amount of “creative book keeping” aka fixing the books is going to stop the inevitable.Short term option, until the money runs out is raise tax/find more tax sources.

I'm not worried about finding the meters themselves, I'm more worried about getting the right software to track water usage and make invoices for the tenants so that I can waste as little time as possible on the bookkeeping.