I recommend two accounts: checking and savings.

Yup we banged all of ours out in an hour or so..

You don't even check for these types of Tenants!!!"

If you do have enough other income then you dont even need to lease out this property to start your refinance.However if you dont have enough income to qualify with no rental income offset then yes you will need to obtain your lease(s) and security deposit + 1st months rents deposited before you can utilize 75% of this gross income - your monthly PITIA payment (in terms of qualification on this property refinance.So all in all Id make sure what your current debt to income position is first of all (DTI) and then strategize to see if you even need the leases at all.

@Calvin Rappard I don't think it is feasible to do a new screening every year, and more importantly, I am not sure you have the tools to move someone out if they fail....

Screw up, get bailed out.

You can check out this group to know who the players are.

Purchase price: $575,000 Cash invested: $75,000 Sale price: $775,000 This was a tough one.

Buyer is a newly formed LLC out of Houston, so even farther away.  

I learned a ton of valuable info from my first rental and it gave me even more confidence to turn things up.