Bonus points if they could set me up with a LOC!

Research local market rates to set competitive rents, and consider offering utilities or furnishings to attract tenants.

I would just go ahead and pay him the $2,000 and get it in writing that he will not pursue you going forward and then set better systems & expectations in place to avoid this problem in the future, lesson learned.

Contrary to popular belief, this is not set because I believe it will give me a higher return.

I also have set up a couple checking accounts for each property as well.

I started by setting aside a percentage of my income every month, treating it like a non-negotiable expense.

Develop a clear set of criteria for onboarding clients and stick to it.

@Michael Anderson If the property had been sold, it would make sense to formally assign the lease and deposit to the new owner and memorialize an agreement to collect and adjust rents after settlement, indemnify the other party for things arising during their respective ownership periods, etc. 

Teach an introduction to real estate class with in a high school setting!

They employ 3rd-party people to handle your property and rarely have a second set of eyes checking for underlying problems.