If they fail to pay, then you can consider taking them to small claims court or filing with a collection agency. 

I'm about ready to file a complaint on them with the FDIC.Moral of the story, it's a nifty application but I would be careful about how much money you keep in that account. 

That's the key component that is usually missing when I hear other entrepreneurs/investors say they don't like QBO.Something else to keep in mind is your entity structure and how your entities file tax returns.

Is it by filing 1065 and generating K1's or is there more to it?

@Nakul PatelCalifornia is generally more cumbersome than other states when it comes to taxes and filings.

You are required to file a complete and accurate return, which means reporting the income that you earned along with atleast the direct expenses that you incurred on your rental.There are two comflicting forces - Your tax accountant wants to be aggressive with deductions because it will entitle you to paying less taxes(now or in the future).Your lender wants to see as much income as that will increase your Debt to Income Ratio(DTI).The good thing is that you can speak with your lender about 'one time expenses', that were only incurred in that year and are not reoccuring. 

I personally recommend working with a CPA who prioritizes integrity and accurate tax return filings, so that if you're ever audited, you won’t face back taxes, penalties, or interest.

The example that comes to mind are often are of folks that operated a dental practice, an accounting office, a bankruptcy lawyer and her staff that did quite well in the 2008 aftermath, and so on, during those first few years, taking up a portion of or all of the space.Once you realize what a dumpster fire it is finding good financing for offices, if you need it, I'll be available. 

I've filed the claims.

You file for eviction and they employ multiple delay tactics that extend your court case 3-6 months without batting an eye, all while not paying rent.