When I changed to my current accountant he insisted I move the business files to QuickBooks.

Understand who pays in the event of an eviction for court filings, what the tenant needs to do (lightbulbs, toilet seats), what the PM will do, what they will charge.

This is good for you as this opens you up to being to find a CPA outside of your state.Since you have a property in Georgia, you will be required to file a non-resident tax return with Georgia.

I am not sure about Greenville, but most of the permitting offices in my area only keep permits on file for seven years.  

@Ryan Fox was the driver insured, if so why isn't the claim being filed against the driver's insurance? 

It might be that each company will file a tax return and the LLC members will declare the income, or loss, on their personal return.

After all of the paperwork was filed and approved, he was able to move in.

LLC's also have many other inherent problems e.g. you may have difficulty transferring the property to a spouse, or relative since the LLC essentially owns the property and it may not be considered to be a personal property.LLC's do not provide you with any protection when someone sues you because if the court awards damages the LLC cannot pay then it is very simple for the Plaintiff to go after your personal assets, or if someone sues you outside of the LLC then the Plaintiff easily get a Charging Order and goes after your personal interests in the LLC.It is much easier to just file for a Ficticiious Business Name, use a DBS e.g.

If you have 5 properties with 5 separate management teams in 5 different states you’re going to have to file loads of taxes and keep track of 5 different management styles which will become a full time job.

@Hideaki YenYou just need to know a very basic understanding of accounting to get involved in real estate.Know that your gross income is rental income, late fees, pet fees, etcExpenses are items such as mortgage interest, real estate taxes, insurance, repairs, etcIf your strategy is cash-flow, your income should be higher than your expensesIf your strategy is appreciation, cash-flow may not matter as much.When you file your return, you will need a list of income/expenses from your rental property.Best of luck.