When its included in a lease for real estate then the laws pertaining to residential rental security deposits in your state apply but when its separate you should have more leeway to get some additional deposit to protect you.

What I found was, yes it was nice have additional income, but each project seemed to always interfere.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

Additional DetailsI’m willing to invest in out-of-state properties, though I prefer areas with good property management options.My primary focus is passive income, but I’m also interested in value-add opportunities.I want to ensure these investments provide strong tax benefits and diversify my portfolio.I’d love to hear from experienced investors:What would you do in my position?

Still, this is a poor time in the rental season and 1 months rent can be expected as a cost of vacancy (in addition to the cost to clean and touch up - $900) .Finally and I hope this is is the last one lol - Another tenant is moving out Jan 31st and this unit also requires a full cosmetic rehab.

We have been working to be extremely conservative with our estimates but with this being our first go at this, any additional expertise is greatly appreciated! 

I did just have my first GVR guest (arriving 1/14) ask me for one additional bath towel and face towel for each of the 3 guests.

So additionally, that there's only 30 days to close and it eats up time for an inspector to schedule time to come.Do you allow inspections of your contracts?

In addition, you'll have depreciation recapture at rates up to 25%.

Thanks for spotting that additional "real property" question.