Given the infrequency of turnover, it all feels very manageable, especially when using PMS tools that help with messaging and reminders.

Great Post-  I appreciate you saying what a lot of the Gurus fail to explain: that this is a long term process and in a lot of cases we don't see the benefits for years to come. 

I have never done this or even looked into it.

If they can't do a money transfer directly to your bank, have them send a certified cheque using registered mail and signature required (they could send it to your work if you don't want to use your home address). 

Looking forward to seeing your portfolio grow.Feel free to drop me a note if you need any help with cost segregation (how to reduce your taxable income using advanced depreciation).Chris Schmidt-Löffler

Quote from @James Haywood: I just started using Doorloop.

I use Stessa only for the tracking feature (transactions).

Another option you can do is buy using conventional first and as long as you can live in it you can rehab slowly if you have the time and use money for rehab from another source if possible.

You can easily do this on a spreadsheet, and it will take less time to track than finding and learning new software.

A cost segregation study looks at the overall building that you purchased and breaks it down as much as possible.The purpose of this is to increase the depreciation expense.Without a cost segregation study, you are depreciating the property over two items(Building and Land).However, a cost segregation study might identify items such as fencing which might be eligible to be depreciated over 15 years instead of 27.5 years.Depending on the year that the building was placed into service, you might be able to take bonus depreciation on certain items.The follow-up question to ask your CPA is will the cost segregation study help me, and by how much?