@Mark Stephens Networking + lead generation + Studying 

Do we need to form an LLC together, should we open a joint bank account together etc????

I know accountants who are comfortable with it as long as meticulous records are kept and arms length is maintained. 

I'm currently in the middle of getting my Real Estate Agent license and hope to have it done by end of year.i was studying my Law of Contracts material and i came across the rule (537.11) that states that agents must use TREC promulgated forms in a transaction unless the license holder (me) is acting SOLELY as principal or the principal (client) requires use of another contract and/or one prepared by an attorney.  

Just wondering whether people typically use Quickbooks (or other accounting software) just to track rental property income & expenses, or the whole shebang such as:- Down payment/closing costs- Assets - the property itself, plus other fixed assets- Liability - the mortgage- Depreciation- Equity

All in all im new to real estate I been studying for the past 3 years collectively and this is my first possibly deal, i just want things done smooth and correctly to familarize myself with the process for future comfortability and reassurance.

What accounts, HnR block?

We get charged 3%, whether our renter pays from their checking account or whether they use a credit card. 

BP includes forms for anyone with a PRO account, which is just one of the many benefits of being a PRO member.

If you're not familiar it basically recommends that you have a bunch of bank accounts (income, profit, owner's pay, taxes, and operating expenses) and when money comes in you distribute it among your bank accounts in some predetermined percentages (profit first of course!)