Once you have the LLC and IRS Employer Identification Number you can open a business bank account to track rental income and expenses. 

For example, bank accounts we control and specific investor capital accounts are all tracked in this same software.For our investor reports, each month we download spreadsheets, write a narrative for the month's performance and then export it all to a PDF.

You want the fast-track for finding whos-who, call everyone.

They both work slightly differently, but are similar enough that a call to the tenants rep usually can get you on the right track to making sure you follow all of the guidelines.

Pay for dinners, lunch (rich people love freebies).You are on the right track to search for a "hand hold".

This can be time consuming and frustrating to keep track of.

It was a nightmare to keep track of everything.Baselane has simplified my rent collection process significantly.

Scott – This one is tailored to investors looking to understand real estate accounting and bookkeeping.You might also consider looking into general bookkeeping books like "QuickBooks for Dummies" for managing finances, especially if you ever plan to expand beyond REI Hub or need more detailed tracking!

Many seasoned investors are willing to share insights, and shadowing someone experienced can fast-track your learning curve.You’ll also want to familiarize yourself with the numbers behind successful flips—acquisition costs, renovation budgets, and after-repair value (ARV).

I think you are on the right track and should only be looking at values on owned land.