Using SharePoint 2010 I want to be able to version my PDF files. So for example I want the user to be able to check out a PDF file, update it, and check the same file back into SharePoint. Is there a simple way to tell SharePoint that PDF's are versionable or does it require a third party option?
Simply turn on versioning for the Document Library. It will retain the different versions of the PDF file. SharePoint doesn't care what type of file it is when it comes to keeping file versions.