Our understanding is that if we designate the $60K as "OPTION CONSIDERATION" - these funds and the USE of these funds are NOT Taxable to the property seller UNTIL one of two things happen; # 1 the OPTION gets exercised, or # 2 the OPTION gets cancelled.

Here’s how to get itFor an unbiased legal opinion, consultant with an attorney whose fee isn’t contingent on outcome, or loading billable hoursFor an unbiased financial opinion, consultant with a FEE ONLY financial or FEE ONLY investment advisorFor an unbiased real estate opinion, consultant with a fee based consultant, preferably one who has obtained the CRE (counselors of real estate ) designation. 

Now working on my short term properties as I like to do hands on maintenance or designing and financial strategies as much as possible.

It’s designed specifically for real estate, with features like rent tracking, expense management, and tenant payments, making it more tailored for property owners.However, if you’re used to QuickBooks or need more robust general business accounting (e.g., payroll, invoicing for non-rental income), you might want to keep both.Ultimately, it depends on your specific needs:For property-specific accounting, Buildium is likely enough.For broader business finances, consider running both or consulting a CPA to see if Buildium covers all your requirements.

Outside of real estate, I'm an entrepreneur and 3D Landscape Design or Outdoor Living Luxury Expert. 

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

But since I front 600 feet of his property it was important to him to have input on design and quality.