I have a duplex. I live in one unit and rent out the other. As my rent is less than my mortgage and expenses, I just deposit my rent checks into my personal account and pay everything from there.
I have been searching in vain for a bookkeeping system that will allow me to track my rental income and expenses so I can easily generate a P&L report to give to my CPA for a schedule E at tax time. I want the ability to track both expenses and income from just the rental unit (e.g., if I repaint the unit between tenants, 100% of that cost goes to the rental unit).
I also need to be able to track expenses that are shared across the whole property, and to designate how much of those expenses should go to the P&L (e.g., the rental unit is 60% of the total property, so 60% of my landscaping costs and roof replacement costs should be assigned to the rental unit). Once I set the percentage that is rental property, my mortgage, property taxes, insurance, etc., should all also get divided appropriately.
I am sure there are lots of other owner-occupant landlords out there (including house hackers) who want a simple bookkeeping system.
It would be a real lifesaver if you could build this in if/when you add the ability to track expenses by individual unit!