When other banks make is easy/seamless to open virtual accounts, create virtual debit cards, and pay a reasonable interest rate on deposits, I will consider them.

They have very specific requirements of how much revenue they want to see on a monthly basis as well as the frequency of the deposits.

So if I contributed some money to my dad when he bought an investment property - I made the PSA deposit during the transaction.

The attorney can also then assist you with creating the following compliant with all federal, state and local laws:1) Rental Application2) Lease & Pet Addendum3) Renewal documents4) Nonpayment Warning Letters5) Eviction Letters & Notices6) Legal Entry Notices7) Security Deposit & Release of Liability Letters8) Vendor Contracts with insurance and other requirements9) MoveIn & MoveOut Procedures to Share with Tenants10) Etc.Hope this helps!

The correct answer is have 6 months of rent plus a regular security deposit held in escrow with the title company.

Essentially they're a letter the seller puts together for each tenant stating the basics - whether they have a lease (and its termination date) or if they are month to month, what they pay each month and whether they're current on those payments, whether they have a security deposit (and if so, how much), whether they have a pet (and its breed, name, & age), whether they pay extra for that pet or have a pet deposit you'll have to refund, etc.

The problem with these is if a tenant charges back they do not fight the chargeback they just take your funds and return them to the tenant.You can ask the tenant for a wage assignment or to put you on their company's direct deposit.

Same with cleaning - they’ll itemize excessive charges for grease/dirt beyond normal and I charge only that amount to tenants deposit.

With the ability to do electronic rent payments and scanned in check deposits you’ll likely spend little to no time on this.

I know the amount of cashflows isnt always going to be the same but i would if their is a positive, i would like to use the funds to pay back the loanor could i set up a checking account with automatic payment to the 401k loan from the left over cashflow deposited from the leases ?