He enjoys working with other investors and passing on his wealth of bookkeeping knowledge. Lastly, after entering all this data for the property, you now will be able to generate reports on the success of your property. With professional software, this can be as simple as clicking a button. If you are doing the books by hand, though, you will be slightly limited in the kinds of reports you can generate. Also, be sure to have a primary account for travel, memberships, dues, and initial due diligence costs for investing opportunities. Tracking these expenses properly prevents real estate bookkeeping services the IRS from taking money it’s not entitled to.