Typical buckets:Income: Rent, late fees, laundry/otherOperating: repairs & maintenance, utilities, insurance, HOA, supplies, advertising, legal/pro fees, bank feesTurnover: cleaning, paint, small replacementsCapEx (capital improvements): roof, HVAC, major appliances, renovations (track separately)Liabilities: security deposits (not income)Auto: mileage (or actuals) + tolls/parking if applicable5) Year-end handoff to your CPA becomes stupid-easyGive them:P&L by propertyBalance sheet (including security deposit liability)CapEx list (date, vendor, amount, what it was)Mileage total + method1099 info if relevant (vendors)PM statements (if applicable)If you want this to feel effortless, the best move is using banking that’s designed for rentals: separate accounts by property, clean transaction feeds, and bookkeeping/reporting that’s “landlord-native.”That’s why I like Baselane for this exact question: it’s banking built for real estate investors, so the workflow above becomes the default instead of a constant discipline test.Full transparency: Baselane is a BiggerPockets partner, but even if they weren’t, the “banking-first bookkeeping” approach is still the right answer for landlords who want clean books without living in spreadsheets.

While it hasn’t been effortless, the value of the investment, the lending options available to me, and the savings have made it more than worth it.

Bonus density, advantages of located near transit centers, recognize unit separation laws and path of progress regarding these (I expect to make a lot of money (at least 7 digits)  on this in the next couple/few years effortlessly).

i have nothing to sell and seem to be serving as a voice of reason to coastal investors who think OOS is effortless and low risk.and, i bet the KC agents are going to be bullish on KC =)

They’ve got peace of mind knowing everything from guest experience to compliance and maintenance is handled, and I get to do what I love: solving problems, optimizing the property, and making hosting effortless.

Most of the traditional methods are suspect now because technology has enabled lenders to uncover property transfers effortlessly and cheaply. 

I’d get a Bungalow as a plan B, plan A being finding a room through The Listings Project or an app like Roomi (found the apartment I’m living now effortlessly.)

Because if you’re liquid, and you’re working with the right person, the strategy can actually be effortless.

My believe is as soon as the law protecting unpermitted units was well known I had a $250k effortless value add.  

A good system should let you categorize transactions, generate reports for tax time, and keep everything organized effortlessly.