Never skip your due diligence OR I would charge the biggest deposit allowed in you state. 

@Vivek Kumar, For a tenant like that I might charge 2 months deposit (max allowed in my state).

However there are some reputable new construction builders in the area.There is, as you likely know, a housing shortage and, once Caesars Casino opens at the end of 2024, they anticipate 2 million visitors a year. 

Jakes is the Casino,,,,,,,,,,MTM is NOT the way to go, way to much work, if MTM was so great I would do it, 

I do not take the listing down until I receive the security deposit.

Or, am I overreacting and PMs truly just lease the property, hold on to deposits, and fix things when they're broken?

@Zehua Zhou,You can use a Fidelity non-prototype account to manage the rentals, but it will have some of the features available with the bank's checking accounts, such as having a debit card, mobile deposit, and bill pay.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

Our preferred method was to have them deposit the money in our bank account, we gave them deposit slips. 

And of course do NOT pay personal, or unrelated expenses directly from the LLC bank account (maintain an LLC bank account - do NOT use a personal account for LLC expenses or deposits!).