Inquiry About Receipts and Fees from PM Company

[Ryan Sun]

As a new real estate investor, I recently bought a SFH and hired a PM company to handle it. I'm wondering if it's common for PMs to provide detailed receipts for each project, and if it's reasonable to request them. I need to prepare for tax filing and potential audits, but I'm unsure if receipts for every expense are necessary.

I had an incident where the PM mentioned a referral fee of $350 for a tenant, but the bill showed $400. They later corrected it after I pointing it out, but now I'm unsure if the referral agent actually exists. Should I request a receipt for this charge, even though it's below $600 and may not require a 1099 form?

Any advice would be appreciated. Thank you!