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

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

Does anyone know how much I could expect to increase rents on a 1 bedroom condo in Jersey City each year? I know there’s no guarantee and it depends on the market, but I’m just trying to get an idea on how my cash flo...

It won't teach you anything about real estate investing and certainly nothing about flipping homes.You'll also need to spend money to obtain your license with the state, and you'll have to pay your annual dues to the local board of Realtors for access to the MLS.

What accounts, HnR block?

We paid an annual subscription that was the  same as any other subscriber. 

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!)

@Brian Eastman gave a spot on answer, from my perspective as a account holder side of things. 

Our offer was just accepted and getting ready to get inspection started.So we have formed a LLC with the state and i wanted to get some information how to set the LLC up for tax and accounting purposes.