Is Your Rental Property Truly Profitable? Free Assessment and Checklist | Gita Faust
Gita Faust
RealEstateAccounting.com
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Free Course  ·  Assessment  ·  40-Point Checklist  ·  Action Plan

You Own Rental Properties. But Do You Actually Know What Each One Is Making?

Not what rent came in. What the property is truly producing after every real expense, every loan payment, and every cost you might not even realize you are missing.

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Free  ·  5 to 10 minute assessment  ·  No accounting experience needed

Sound familiar?

"I am profitable on paper but I am always worried about cash flow."

— Rental Property Owner

"I am making money but I have no idea where it is going."

— Rental Property Owner

"I know something is not right with my numbers. I just do not know what."

— Rental Property Owner

What Is Actually Happening

A Positive Bank Balance Is Not the Same as a Profitable Property

Rent coming in every month feels good. But that does not mean your property is truly profitable. And it definitely does not mean your numbers are telling you the full story.

Here are the four things I see most often when I sit down with a property owner for the first time.

Expenses Assigned to the Wrong Property or Not Recorded at All

A repair paid from a personal card never makes it into the records. A management fee lands on the wrong property. The report looks fine. But it is not accurate.

A Mortgage Payment Recorded as One Lump Sum

It should be split into principal, interest, and escrow. When it is not, both your Profit and Loss report and your Balance Sheet are wrong. And you do not even know it.

Two Sets of Reports That Do Not Agree

Your accounting software says one number. Your property management software says another. You go back to the bank balance because you do not know which one to trust.

No Way to Pull a Clean Profit and Loss for Each Property

When your lender, your accountant, or your own gut tells you to look at the numbers, you cannot easily get there. That is a problem that gets bigger every time you need to make a decision.

Is This For You?

This Free Course Was Made for You If...

You do not need a complicated situation for your finances to be unclear. Most of the property owners I work with are doing everything right on the surface. They just do not have the right information underneath it.

  • You own one or more rental properties
  • Rent is coming in but you are not sure what you are truly earning
  • You rely on the bank balance to judge how the property is doing
  • You have a bookkeeper or property manager but still do not fully understand your numbers
  • Your accounting records and your property management reports do not agree
  • You cannot easily pull a Profit and Loss report for each individual property
  • You are getting ready to buy another property, refinance, or sell and you know your numbers need to be right
  • You want to make your next financial decision from a place of clarity, not guesswork
What Is Inside

Here Is Everything You Get. For Free.

A complete starter kit for understanding what your rental property is actually producing. No accounting background needed.

Seven Short Video Lessons

Plain language. No accounting degree required. You will learn what to track, what to look for, and why it matters for your specific situation.

20 Question Assessment

Answer questions about one property based on what is happening today. Not pass or fail. A clear picture of exactly where you stand right now.

Your Profitability Score

You will get a score as a percentage. That number tells you clearly whether your financial visibility is strong or whether something important is missing.

40 Point Checklist

Download it and use it for every property in your portfolio. Run through it monthly or before any major financial decision.

Your Three Action Plan

You will leave with three specific things to address first. Not an overwhelming list. Three focused actions that will make the biggest difference.

Takes 5 to 10 Minutes

The full course is about 20 to 30 minutes. The assessment itself takes 5 to 10 minutes. Do it in one sitting or section by section.

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Free  ·  No credit card  ·  No accounting experience needed

How It Works

Five Steps. One Clear Picture.

Here is exactly what happens when you sign up.

  1. Pick One Property

    Start with the one you know best. Or start with the one that has been bothering you the most. Either way, one property is all you need to begin.

  2. Watch Seven Short Lessons

    Each lesson covers one part of your property's financial picture. Income, expenses, loans, cash flow, and reporting. Short, plain, and built for property owners, not accountants.

  3. Take the 20 Question Assessment

    Answer each question based on what is actually happening today. Not what you plan to fix. Not what you know you should be doing. What is real right now. Takes 5 to 10 minutes.

  4. Get Your Profitability Score

    Your score shows up as a percentage. You will know right away whether your financial visibility is strong or exactly where the gaps are that need your attention first.

  5. Choose Your Three Actions

    You will leave with a plan based on your results. Three things to do first. That is it. No overwhelming task lists. Just a clear, doable next step.

Gita Faust — Real Estate Accounting Expert, Fractional CFO, and Advanced Certified QuickBooks ProAdvisor
Gita Faust
Real Estate Accounting Expert  ·  Fractional CFO  ·  Controller
Author  ·  Speaker  ·  Advanced Certified QuickBooks ProAdvisor

I have been helping property owners and real estate investors make sense of their numbers for more than 25 years. And what I have learned is that the problem almost never comes down to effort. Most property owners are working hard. The problem is that they are working with incomplete information.

Expenses that never made it into the right place. A loan payment that is not being recorded the way it should be. Reports that look fine until you know what to actually look for.

I built this free course because I kept having the same conversation over and over with people who felt like something was not adding up. They were right. And now you can find out for yourself without needing to sit across from me first.

"I turn 'What the heck is this?' into 'Oh. That's where the money went.'"

Questions

Questions People Ask Before They Sign Up

I already have a bookkeeper. Do I still need this?
Yes. A bookkeeper records transactions. That does not mean your records are organized by property, that the right information is being captured, or that your reports are actually usable. Many property owners with bookkeepers still cannot pull a clean Profit and Loss for each property and find out errors only when tax season arrives.
My property management software tracks everything. Is that not enough?
Property management software tracks leases, rent payments, and maintenance. It does not record your mortgage payments correctly, does not separate capital improvements from routine repairs, and does not reconcile with your bank accounts. Most property owners find their accounting and property management reports disagree, often by amounts that matter.
I only have one rental property. Is this really relevant for me?
Especially for you. Single property owners often have the most to lose from unclear financials. One missed expense or one misrecorded loan payment can significantly distort how profitable the property appears. One property is the perfect place to start.
I am not a numbers person. Will I understand this?
This was designed for property owners, not accountants. The videos are plain language. The questions are straightforward. You do not need to know any formulas. If you have ever looked at your bank balance and wondered where the money went, you can complete this.
How is this different from what my CPA does?
Your CPA works with the records you give them, usually once a year at tax time. They prepare your return based on what is there. They do not typically review whether your day to day records are organized correctly or whether your reports reflect each property's actual performance. This assessment looks at the information you need right now.
What if my books are behind or a complete mess?
That is the most common situation. Answering "I am not sure" or "No" is just as useful as answering "Yes." Those answers show you exactly where to look first. You do not need clean books to start. You take the assessment to find out what it will take to get there.
I am profitable on paper but always short on cash. Is something wrong?
This is more common than you think, and there is usually a clear reason for it. Profit and cash flow are not the same thing. Mortgage principal, security deposits, reserves, and upcoming expenses all affect your available cash without clearly showing on a Profit and Loss report. The assessment covers this directly.
Do I need to use QuickBooks or Xero for this?
No. The assessment works regardless of what software you use. That said, if you want to set up your accounting system correctly for rental properties, there are QuickBooks courses, Xero courses, and cleanup courses available for both platforms after you complete the free course.
What happens after I complete the free assessment?
You will receive your profitability score, a downloadable 40 point checklist, and a three action plan. From there you can continue improving on your own, explore courses on QuickBooks or Xero for rental properties, or schedule a Property Financial Review if you want hands on help.

Your Property Is Already Producing a Result.

The only question is whether your numbers are actually showing you what that result is. Find out right now. It is free, it takes 5 to 10 minutes, and you will walk away knowing exactly where you stand.

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Free  ·  No credit card  ·  No accounting experience needed

Gita Faust  |  RealEstateAccounting.com
© 2026 Gita Faust · RealEstateAccounting.com
This free course and assessment are provided for educational purposes only and do not constitute accounting, tax, legal, or investment advice.