Also what method do you use to collect rent?

The general public thinks of “notes” as a passive investment collecting interest every month until maturity.  

That has been a huge issue all around but there has been an increase in the rent collection sector. 

@Adam BartomeoGuys the IRS requires the 1099 amount to be equal to the GROSS amount you collected on behalf of the owner, even if you are collecting water bills, etc. from tenants.NOTHING is deducted from the Gross amount,including your PMC fees!

Has anyone used any of the apps that allow the tenants to split payments, but still send the rent to you as a single payment?  My tenant is asking about Rent app, flex app, zenbase, livble.  Wondering about putting my...

Hi @Tyler Koller I've used apartments.co for screening and rent collection in the past and it worked well. 

I am not an accountant, but need to start using more sophisticated accounting software. 

A detailed before-and-after P&L comparison would be useful here to show accuracy and weaknesses.I have a relatively sophisticated rehab spreadsheet I’ve been enhancing for years, and I know it’s reasonably accurate.

It also requires gaining a level of sophistication and knowledge that not everyone has the time, inclination or ability to do.

We’re currently using it for multi-family properties in a few core markets.While redIQ is a much more sophisticated tool that focuses on properties with over 50 units, our system is perfect for properties up to 50 units, providing an efficient solution for managing lead intake and financial analysis without the complexity of larger systems.Here’s how it works:Lead Intake & Processing: Automatically processes broker emails and key documents (OMs, Rent Rolls, T12s, etc.).Quick Review: Evaluates leads based on key metrics like IRR, price per unit, and more.Detailed Analysis: Extracts data from documents, evaluates financials, and identifies additional income sources.Market Research Integration: Automates checks on flood zones, demographics, school quality, etc.Deal Tracking: Uses Google Sheets to visually organize lead data—while not a full database system, it provides a simple and efficient way to store and track deals without the need for a full-fledged database like MongoDB.Financial Analysis: Built-in underwriting and financial modeling with automated reports.In addition to ZCG, I also own a portfolio of properties.