Currently I run QuickBooks, but their claim is there’s no need for QB as their accounting and reporting is a QB replacement.Should I be running QuickBooks along side Buildium or ditch QuickBooks and solely use Buildium?

(Once I had a tenant claim mold was in the oven, I went over there...was just residue from where my folks cleaned it).2) Have tenants hire a professional.

I do not know why people claim to try and help a homeowner when they are really trying to help themselves.

**Adjusted Basis**: This is the original purchase price of the home, plus the cost of any improvements you made over the years, minus any depreciation you claimed while renting the property.2.

Sounds like this is more about your ability to qualify because of claiming depreciation.  

@Alexander F Pollock how did you proceed on the Quit Claim Deed ? 

I recently learned that if you owner occupy a residence for part of the 5 previous years before sale, and you rent it for the remaining time, you can calculate the percentage of time the property was owner-occupied (and thus qualifies for the sec. 121 primary sales tax exemption of up to $250k for single filers) vs the time it was being rented (which qualifies for 1031 exchange) and claim both benefits. https://hcsequity.com/blog/combining-1031-exchange-with-121-....How does this work for a multi-family?

By forming a property management company, you could deduct business expenses like office supplies, software, and possibly a home office, which you wouldn’t otherwise be able to claim.

Disclosure: I have only done this with MFR properties but according to the state it should be acceptable with SFR property as long as you claim holding it solely for investment and not your personal residence as you would already get a better deal.A few other slight perks of SC compared to some other states is the taxable value is not retroactively applied. 

Many times they will claim it's wonderful and then try to hide their worst deals by only showing completed deals.