The claims of 1hr to collect rent, produce receipts, and deposit checks also seems like a reasonable claim if done physically and not electronically.

In Massachusetts, helping your non paying tenants find new housing that they can afford and paying for their moving costs and new deposit can be cheaper than the long eviction process.

If I secure renters and show a lease agreement and deposit can I get into lower interest rate mortgage?

The problem is that they do not usually give this to new people and/or people that do not have big amounts deposited into their accounts.I'm also CT based. 

You can get some estimates from contractors for what they charge for big ticket items like to renovate a bathroom, renovate a kitchen, replace the furnace, replace the roof, etc.All wholesale deals should have free and clear title and you should be able to see the sales agreement before submitting the earnest money deposit.

You have decent cash flow that you'll continue to accumulate, which you could put toward a deposit later for another property. 

Put down deposit, lease isn't signed. 

I know I need to hold the security deposit in an escrow account.  

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Pet deposit is $250.