We play games called, "lets show the property to a perspective tenant" and "lets go to closing together" and "lets deposit money in your bank account" and "lets review your college fund investments".

The landlord is required to return the deposit and/or provide accounting within 30 days of moving out AND providing a forwarding address. 

@Clay TeegardenAmongst the avalanche of nearly identical responses from my fellow accountants about setting money aside and rates and so on, I will repeat a point that I consider crucial:There is no guarantee that you will have any taxable profit when you start flipping.

If you haven't activated your RentRedi account yet, activate here - it's totally free for Pros!

While the cash allocation is somewhat high, it serves as a reserve for our rental properties and future real estate investments, held in a high-yield savings account.

We have been putting most of our extra money into retirement accounts before this.

A recent study showed that 80 people are moving to this city every single week, which will continue to increase housing demand.

As a side note, Floridas current insurance issues are mostly caused by other factors besides the increase in severity and frequency of natural disasters however (roofing scams and no caps on lawyers fees for claims, both results of bad government policy that resulted in most insurance companies leaving the state and the remaining ones raising rates to account for having to pay for all of the roofing scams and absurdly high attorney fees on simple claims). 

Any reason to not account for a larger CapEx? 

I would make sure to connect with an investor friendly accountant to understand the tax benefits you may be able to pursue.