Rental Property Budgeting Approaches

[Valerie King]

Once you get settled into your rental property, I assume it's important to document everything and stay super organize. 

What's your approach to recording monthly income, expenses, etc.? Is Microsoft Excel too simple? Any chance you could share an example of what your budgeting looks like? What numbers should always be included and why?

[Brandon Schlichter]

started off using excel, now use quickbook for everything.

We set back actual taxes , actual inaurance, 10% of gross rents for repairs and such , 5% of rents for vacancy related costs.