In TX we can collect up to a double security deposit which I do for some tenants.

I can quickly create bank accounts for each property, the categories for tagging your transactions align perfectly with your Schedule E for taxes and I can do all of my tenant related functions like tenant vetting, lease creation and collecting deposits and rents.

Minutes away from Sanibel Island.Main house is a 3b/2ba renting for $2600Duplex on same lot is 4b/2ba split into two 2b/1ba collecting $1900 in rent EACH.Purchase price of home was $662,000 with closing costs wrapped in.

I also have used apps to collect payments,  but don't like cloud programs for reporting or financial data storage.

So, we obtaina full credit report and review collections, chargeoffs, age of credit accounts, active accounts, etc.to build an overall credit evaluation.FICO ScorePct of PopulationDefault Probability800 or more13.00%1.00%750-79927.00%1.00%700-74918.00%4.40%650-69915.00%8.90%600-64912.00%15.80%550-5998.00%22.50%500-5495.00%28.40%Less than 4992.00%41.00%Source: Fair Isaac CompanyPublic RecordsWe also obtain data from national databases about evictions, convictions and sex-offender histories.

After placing a tenant, collect cashflow.

Innago does everything that we need it to: communicate with tenants, listings, applications, leases, maintenance requests, invoicing, and rent collection...

Let's say it leaks for days before detection, lots of water damage to kitchen cabinetry/floors, and it's determined the new water filter system was the culprit.Now the owner is trying to collect to remedy damages. 

I've aalways considered an outdoor pod as shown here:https://privacypod.ai/collections/outdoor-podsIts all prefabricated and everything... 

Also you might charge your tenants a higher amount, but I wouldn't want to go that way as owning and running this business is more profitable then just collecting rents.