Deposits from the tenant.Security deposits from the tenant in residential dwelling units shall be deposited in a trust account with a licensed and federally insured depository institution lawfully doing business in this State or the landlord may, at his option, furnish a bond from an insurance company licensed to do business in North Carolina.

A professional trustee such as Exeter Trust Company is the way to go if you want it done right, imo. 

And being in California, you really should be using licensed companies for everything.

They want them all jammed in large apartment complexes, run by large companies, in concentrated areas, away from them.

Before the great recession, as a 22-year-old that knew nothing, I did a few flips and ran my own property management company.

The specialist I recommend you have is an attorney to properly draft the documents and a title company to facilitate the deal.

.● Management Company Challenges.

real estate training has always been a big money bizz.. its really promulgated though with U tube and how easy it is to throw you stuff out there.. but to really get wealthy doing it you do need a ton of dough for marketing or a great relationship with a fullfilment company.

I hired an IRA-approved valuation company to value that note at that time.

As mentioned have an attorney or title company draft the note and mortgage.