Q: As a real estate investor, how should I set up my real estate QuickBooks file? Should I start my file in the service industry?

A: Yes, you should create a file based on a service industry.

Select Rental as your specific industry so your company file contains the real estate QuickBooks file industry Chart of Accounts.

Also check out the Schedule E form at the IRS website here is the link: http://www.irs.gov/pub/irs-pdf/f1040se.pdf