I do want to talk to a LOCAL attorney about this because i've used pre-paid legal shield and they couldn't even give me a straight answer!!

As well as maybe a prepaid expense account, for example you may pay an insurance in full and then need to amortize over the month it covers.

You need 2 business accounts, one operating account and one escrow account.Deposits are not your money, pre-paid rent should be recognized as received on a cash basis with it being a liability until the rent is realized.

I kept saving and learning, paid off my car and student loans (helped my DTI) so I could buy another house in 2020 using another conventional 5% down loan (this time I prepaid the PMI because it was half the price of making the payments). 

You can lock down a cash flowing rental with the purchase price of 60-80k so assuming a 75k purchase price you'll bring 15k down as well as 2.5 for closing costs and 2.5k for prepaid taxes and insurance.

This is because discount points are prepaid interest, and you will lose that money if you refinance before the end of your loan term.However, if you are planning to keep the property for 10 years or more, you may save money by buying discount points.

In addition some lenders will permit a concession to be towards pre paid interest.

For example, a concrete company will provide a release right after the pour if pre/paid with smaller subs.

If you close the loan before July 1st then your loan amount will be limited to the initial purchase price plus closing costs and prepaid fees.

Should only be used for things that should be in an escrow account like SD's and prepaid items etc...