I'd make sure you've confirmed deposits have been transferred to the new PM along with any rent they've collected or your own deposits they may have (my PM keeps $500 of my money to cover any repairs that may come in). 

@Brian Willie this setup is very common to avoid having each Property LLC to have its own bank accounts.Only the Management LLC will need Operating and Security Deposit accounts.They all need to be single-member LLCs with the same owner, or else it gets very complicated.Find a good tax attorney to help set this up.

With that being said, make sure the level of work matches comps that are renting for the return you are looking for.

I recently read in a book that suggested I should open a dual checking and savings account, and take the security deposits from my future tenants and store them in the savings account, then use the checking to pay the mortgage or maintenance fees.

I use online methods for payments, but recently I noticed Zelle records were absent and this placed both myself and my tenent in distress, as we no longer had evidence of a deposit. 

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.

He ask for a $500.00 deposit, which he would return after you completed all the calls.

These were farms, land with timber harvesting, land with some mineral deposits.

Go to your bank and ask for instructions for your tenant to set up direct deposit into your account.

I understand that the law in CA limiting landlords to a max of one month's deposit went into effect on July 1.