You'd want to do a return on equity audit to see how much you're generating from the property.

I would definitely have a process in place and if you are not using software platform then at least an email instead of just a text.

Having gone though an audit from the IRS myself, I cannot tell you enough times how happy I was that I had one.

How do you know if they're doing fine if they did not issue a K-1 or provide audited financials. 

You can also use tags or classes in software like QuickBooks so even with one bank account, you still get clear reporting by property.

Any insights, recommended software, or personal experiences you can share would be incredibly helpful.Thanks in advance for your expertise and time.

Quote from @Daniel Norman: I am just about to buy my first investment and plan to buy several within the next few months, what software or tools does everyone use to keep track of their portfolio and equity?

Mainly interested in chatting to see if there are synergies or ways to leverage the software more effectively for marketing and deal flow.If you’ve used Propstream (or even alternatives like REIPro, BatchLeads, etc.), I’d love to connect and compare notes.Thanks in advance, and looking forward to the conversation!

I am fairly confident with todays updated software systems even doing those things will be more simplified. 

It seems to be a hot topic lately, with internet gurus like Pace Morby and Heather Blankenship claiming that you can successfully manage an out-of-state RV park remotely by hiring a park operator, cleaning/maintenance staff, and leveraging software/AI for booking, marketing, and guest inquiries.I’m wondering—how realistic is this in practice?