I know I need to hold the security deposit in an escrow account.  

Do you have enough equity to do a cash out refi and use that cash to put a down payment on another property?

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Currently, we are learning more about investing while we save enough capital for a down payment for our first rental property.

or have you found various creative solutions to secure favorable terms?

The state doesn’t have rent control laws, but landlords are prohibited from collecting more than one month’s rent for security deposits.

-Cash Back on debit card payments (THIS IS THE BEST)-Higher APY than is typical on checking accounts 

You could request a price reduction or additional seller credits for the inconvenience and security risk.

The only negotiation with the tenant after the judgment is the payment plan for the money owed to you.

I used 7/1 arm provided by builder. its 5.25 with 30% down payment