When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.

Same rules apply to you as doubles, but across all your units that you don't live in. $500/year for EACH of the units you plan to STR. 2d.

I've read multiple bigger pockets books and have been part of a RE mastermind discussion group, so I feel I have a lot of theoretical knowledge, but I'm eager to apply that and truly learn from actual experience.

I applied for a rental loan as their Investor Select product looked compelling - it had a comparatively low 3.6% interest rate for investors with a W-2.

Does anyone have a suggestion as to how I should proceed/ how much time I should give them to “apply” before I provide them with a new lease to sign?

Some states have specific rules for buying, selling, or servicing mortgage notes that you must adhere to, even if you are out-of-state.3.Federal Regulations: While state regulations are the primary concern, be aware of any federal regulations that may apply, particularly if you are dealing with notes related to federally insured mortgages.4.

You have no rights to the property until the tax deed is filed at the Charleston County Register of Deeds (ROD) conveying the property to you as the new owner.Once again in this post - go work with a good attorney in your state that is familiar with these rules, along with your CPA (local or not) to walk through the analysis as it applies to your particular jurisdictions. 

Things have changed over the last few years so do not be afraid to ask questions before you apply any learned principals.

They have also outsourced their TAX SERVICES and despite my constant request to expedite my tax filing so that we can apply for a CRITICAL BUSINESS LOAN TO EXPAND OUR BUSINESS, THEY SAT ON OUR TAX and BOOKEEPING files for 7 months.

@Saeed Jassani appears you are not only comparing two different markets, but probably also two different asset classes.Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.