How would this be accounted for for general accounting and taxes?  

Taxes : Taxes have been a brewing crisis nationwide for sometime, Chicago is another prime example of a major municipality struggling under high debt load.

We're right next to CA but get the benefits of no state income tax, 4th lowest property taxes, much more friendly landlord/tenant laws, no serious weather, proximity to Lake Tahoe, stable job growth/population growth, etc. 

These are features like online renter payments, tenant portal (for payments and work orders), help keeping track of work orders, tax reporting features, and accounting functionality.

Not only were tax shelters stripped of their tax deferral capabilities, but they were stripped of it RETROACTIVE, allowing the IRS to recalculate tax shelter investors income going back 7 years.  

.: Stessa isn't good for keeping track of tax deduction items.Stessa was designed to just look at P&L.

Lower property taxes, affordable housing compared to LA (CA buyers are usually cash buyers because what they net from their smaller home in CA can get them a bigger home here, often covered by what they net from their CA sale), allergies (smog), and politics. 

I am using the tax benefit along with the principal pay down and appreciation to offset.

That helps some...but your variable expenses also go up too - property insurance & taxes - so a lot of your rent increases go to offset rising variable expenses.I started at the age of 47 in 2018 and we bought properties fast and furious - 12 the first year, 10 the next, and 9 in 2021 and currently have 38 properties. 

The 1031 exchange will indefinitely defer all tax on profit and all depreciation recapture.