Some software to look at for budget-conscious operators: rentvine, doorloop, buildium.

Getting this wrong is one of the most common audit triggers for rental property owners.On contractor tracking, I keep a list per market of who did what work, what they charged, and whether I would use them again.

@William ThompsonI’ve been told by a number of CPA’s within our investing group, filing an extension reduces your chance of an audit.  

Software-based studies vary a lot in quality.

Once you get into a large number of doors (10+), I'd look into software.  

I’ve noticed a trend this week with newer investors: people are trying to “figure it out” with tax software, Reddit advice, or what a friend told them… and they’re getting completely different answers.Totally normal.Real estate taxes have a lot of moving parts, especially when you’re just starting out:repairs vs. improvementsdepreciation basicsSchedule E vs.

The dynamic pricing software did kick in and increase the rates by about double, but in reality some of these should have been more like 5-10x ADR not just double. 

This alone cuts your "investor management" time in half because people stop emailing you asking for info they can look up themselves.A clean audit trail for every dollar in and out.

Using software?

If they use software that you don't have try and collect the rent a different way you are comfortable.