Property management should be left to those who are qualified in this arena, or to property owners who are willing to develop the skills necessary to do the job properly themselves.

Then check out Buildium, its a more full service property management software, which means it costs more, but should save you a lot of time and included rent collection online. 

Hansen, I have never heard back and he is most likely living on my 15k while looking for his next sucker.As a sidenote, I did discover a great piece of software called phone view.

I was/am involved in the development of a roughly 5 acre parcel on Kauai. 

And I agree that tracking expenses for a small number of units is easily done without purchasing expensive property management software.

Once the property is developed, and becomes a business with demonstrable cash flow, the value goes up again.

Memphis Invest uses a software called PropertyWare to track all expenses, collect statements, and create a ledger of accounts receivable, paid, outstanding, and overall return on investment.

They are already getting a development fee.

I am also a developer, finishing my first two houses in just a couple weeks.

I have developed a spreadsheet and would absolutely love some feedback from the more seasoned veterans!