I have software that does this as well - its not excel but there are a ton of benefits over excel, especially if you want to have multiple scenarios of the same asset, aggregate multiple assets into a fund, calculate complex equity waterfalls, integrate AI to automate data entry or write python scripts to do analysis (or have ChatGPT write it for you). 

Five units isn’t operationally complex, but without structure, small misses compound — lease dates, late fees, maintenance follow-ups.Where DIY usually succeeds is when owners lock in a few non-negotiables:One official communication channel (no scattered texts)Clear late fee enforcement and automated remindersA lease expiration tracking system with 60–90 day alertsDefined maintenance approval thresholds so every repair doesn’t require a mental decisionSpreadsheets can work, but only if someone treats them like a system — most people don’t.

By removing travel costs, automating the data entry of construction invoices, and using AI for component classification, we pass those efficiencies directly to the property owner.Our goal isn't to replace the complexity of the tax law, but to replace the manual labor historically required to comply with it.

Better skip trace data cross-referenced across 2-3 providers usually beats the complexity of adding a whole new marketing channel.

Management effort is similarManaging two units vs four units is not double the work.Same roof.Same building.Same lawn.Same systems.The jump in complexity is smaller than most people think.

However, the properties in question were condominiums, and it might have played a role.

Hi @Ivette Raygoza,I’d lean heavily towards the separate personal account for your first property, especially since you are a California resident.While the "get an LLC" advice is standard in many states, being in California adds a layer of complexity and cost that often isn't worth it for a single rental.The "California Trap" for Out-of-State LLCs:Even if your property and LLC are registered in another state (e.g., Texas or Ohio), the California Franchise Tax Board (FTB) takes the position that if you are managing that LLC from your home in California, you are "doing business" in California.This triggers two major requirements:Registration: You must register your out-of-state LLC with the CA Secretary of State as a "Foreign LLC" (Form LLC-5).The $800 Tax: You are subject to California's $800 minimum annual franchise tax (paid via Form 3522), plus the requirement to file an annual CA LLC return (Form 568), even if the LLC earns no money in CA.The Cost-Benefit Analysis:For a single rental, paying an extra $800/year just to the state of CA (on top of the fees you pay to the state where the property is located) will significantly eat into your cash flow.My Recommendation:Stick to the separate personal checking/savings account for now.

Definitely worth checking out if you want something that streamlines management without being overly complex.

Appreciate you sharing that — and I completely agree that country-specific regulations can make a significant difference when investing internationally.Currency exposure is definitely a real consideration, especially over shorter holding periods, and tax treatment for non-residents can vary widely across European jurisdictions.Spain is often cited as an example where ownership structures and tax obligations may become more complex for foreign investors, particularly when it comes to global income reporting or non-resident ownership rules.In Hungary, the regulatory framework for foreign ownership tends to follow a more standardized administrative approval process for residential acquisitions, which may provide a bit more procedural clarity for non-resident investors depending on how the investment is structured.It’s also interesting that you mentioned STR performance in smaller towns — I’ve heard similar observations where long-term rental yields may be modest, but mid-term or short-term strategies can sometimes make the investment more viable, depending on local regulations.And absolutely — having a reliable local property management structure in place seems to be one of the key operational factors when investing abroad.Out of curiosity, have you found that working with a local management team helped mitigate some of those regulatory or operational risks?

Depends if the passive investment itself is internally leveraged,So, if an investor is investing in a syndication which owns say a 50 unit apartment complex free and clear of debt, and invests $100k, 50k of which is borrowed at say 5% on a home equity line of credit, this is probably ok.Not so much under the same scenario of personal borrowing where the syndication had a 50% LTV mortgage itself against the subject property.