But, for conservative accounting, it is smart to accrue for it.

We are talking about pretty small numbers.Russell,Whether you claim it as a business expense or as business income wouldn't interest accrued in the account have a 1099 anyway?

This means as soon as you close on the property you start accruing rent whether a tenant is in place or not.

Next, I plan to keep flipping to build capital and slowly accrue rentals... looking at an interesting deal on three properties that total 11 units right now. 

This can drive up your costs as taxes and municipal bills keep accruing.

Interest accrued = $3.90 for a total of 653.90.

The $400 high bid premium backIf the property owner does not pay the taxes you can foreclose on the property.If the prperty owner redeems after foreclosure starts they must reimburse your legal fees.If you complete a foreclosure, you will payLegal feesthe rest of your bid balance, the high bid premium and the taxes are applied to the bid priceNew taxes that have accrued since you bought the lien. 

It's important to note, that most syndication structures will call for distributions to accrue.

One-time charge of $XXXSmall fee that starts on Day X and continues to accrue daily until Tenant pays in fullCombination of a one-time charge and then a smaller daily feeWhat made you choose the method you currently use? 

I have been trying to do it "right" and use accrual, but thinking I may be making things harder than they need to be.Even with just a handful of properties, things are quickly spinning out of control with journal entries for accruing property taxes monthly (paid at the end of the year) and insurance (usually pre-paid and then expensed out monthly, but each property seems to be a little bit different).