I'd recommend having 1 QB account that both you and your partner can access for reports and income/expense tracking.Regarding the platform, I've used QB for over 4 years and its been a game changer for me.

For property owners with out-of-state investments, is it necessary to keep all receipts and invoices for write-offs during tax season, even smaller jobs performed by the PM's handyman?

Is there anything prohibiting me from doing this tax-wise?

Hi Jay, here's a heatmap for Seattle that looks at every neighborhood and ranks it from A to D using around 30 data points, like Median income, population growth, employment stats, appreciation etc.

After expenses and mortgage, I end up with a net cash flow of anywhere b/w $150-$250 which I find rather small, and I wonder if this could even get eaten up by tax filing time.

The property isn’t really making you passive income, but it’s also not costing you anything to own. 

The number of doors or the income to eventually create time freedom?

I am looking for best practices both from a legal protection standpoint and from a tax advantage standpoint.

If you're seeking a reliable income stream, consider checking out Cleveland.

If you haven't already, you should be receiving your property taxes soon.