Quote from @Kyle Carter: What are some questions that you can ask to each of the required team members(PM, Agent, etc. ) to ensure that goals align and they are best fit.  

If out-of-state offers significantly better returns, ensure you do thorough research and build a reliable local team.

We have a dedicated team whose purpose is to ensure that our passive investors never feel disconnected from their properties.

You will receive the security deposit in Checking but then transfer it to Savings.Savings: Hold the deposit here so it's separate from operating funds.

You'd also need to establish a budget, and secure a master insurance policy. i THINK you need to do these things before reaching out to your municipality to have it converted officially with the county or city but they would be the first ask for steps in order.i will add, this would make financing on these units a bit challenging, as in the mortgage world, at least initially, they would be considered "non-warrantable" condos.

Now, I'm imaging a scenario when every one of these tenants move out that I'll be paying their entire security deposit + interest even if there are damages beyond normal wear and tear. 

This is how they ensure the work is completed and the project is staying on budget.The questions you should be asking are what is the draw process.

This way, you can ensure you’re closing and still save some money.

Yes, Oklahoma is a great market to consider, especially for multifamily properties:Affordability: Oklahoma City (OKC) and Tulsa have duplexes and small apartment buildings within a reasonable price range.Landlord-Friendly Laws: Makes property management less stressful.Stable Cash Flow: Properties in Oklahoma often meet or exceed the 1% rule, providing consistent rental income.Growing Economy: Both cities are seeing population and job growth, boosting demand for rentals.Tips for Getting Started:Do Your Homework: Use tools like BiggerPockets calculators to analyze deals and ensure cash flow.Focus on Neighborhoods: In OKC, check areas like Yukon, Edmond, or Midwest City.

1099, social security, trust payments, annuities, etc?