I have been a real estate investor for several years now, and I can’t think of a time when anyone has gotten excited about the topic of rental property accounting.
There are a few things that every real estate investor (or any business owner) needs to get right to set their rental property bookkeeping system up for success.
While this is not a requirement, if you have 1-4 properties or so, you can make things really easy on yourself by setting up a separate bank account for each property you own.
In the digital age we live in, there is no excuse for not taking advantage of all the efficiencies to be gained by automating as much as you possibly can.