After searching more, I found a few BP post where people seemed to have one account for all deposits, and keep only deposits in there.

Money was deposited into my account the day after checkout.

My buddy sold for ~$500k over its existing use value and no contingencies and did not even convey existing tenant’s deposit.  

Of you’re tired of endless negotiations, shotgunning offers to sellers who have no intention of selling, or chasing every “deal” that’s never going to be sold at a price an investor can profit, give this method a shot.  

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.

Since the payment was deposited into your account on 1/6/2025, it would typically be considered income for 2025, even though the tenant paid it on 12/31/2024.However, if you use cash-basis accounting (which most landlords do), the key factor is when you physically receive the money, not when it was sent or owed.

That’s like depositing $300 into a savings account every month.Plus, it’s an investment property, so you can depreciate it to save on taxes.More Than $1,500This isn’t just about making $1,500 in rent—it’s about building long-term wealth.

All things being equal, I would accept these applicants, but I would require them to pay a deposit equal to two months of rent.

That would be called the BRRRR strategy - there is endless info on that strategy here and on the podcasts and in the BP bookstore.

Let them move in with a deposit and first months rent.