I also prepaid my PMI as it was bit cheaper then monthly.But looking back, I'd of been better off not doing that and then doing a refi.

We reserve the right to require a higher security deposit and or additional prepaid rent.

It's annoying for sure, but each entity gets it's own bank account, credit, debit card, then transactions auto populate in whatever management software you use.

The initial payment took 5-7 days only I believe because the tenant paid with a debit card.

@Christopher Mendoza  I have found that it provided them with a form that they fill out anyway to figure out your DSCR, (Debit Service Coverage Ratio).

When I write checks, I credit the liability account so I know EXACTLY how much I owe any month, and debit the interest account when I write a check to each lender.

You will be locked into a 30yr investment in which you the value of your principal investment will be eroded in the inflationary environment...you want equity upsideJoe A, i think he meant 'owe' debit, not 'own'.

If the manager is not, then you have to debit and credit the manager just like a third party.

I didn't do this with our first purchase, but not too big a deal- one tenant had prepaid, another is on county assistance and they send the check automatically on the first, the third is chronically late with the rent but pays late fees.

Here in Tucson, there was a big PM company that folded last year because it turned out that their accountant or internal bookkeeper or one of the partners had over time stolen several hundred thousand dollars in owner reserves, prepaid rents, tenant security deposits, etc.