Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!

I have heard many people talk about pre paid legal.

Basically it’s a pre paid debit card where you tell the bank how much you want to use.

You can even get Crypto based Credit and Debit cards now to simplify your transactions and increase your buying power.

You pre-paid 4 years, but the interest will continue to accumulated until you make the next payment, I  don't see the benefit.

He paid both on July 26th so this is prepaid rent and should be kept in your escrow account until each month comes due. 

Your other closing costs, to include prepaids, will run you $5K or so.

At title, the total refundable deposits would be debited to seller and credited to buyer.

Joe Grebe One last thing: if you are more comfortable with using debit cards for your spending instead of cash envelopes go to everydollar.com which is a free budgeting tool.

I currently have a business account for this property, completely separate from my personal account, which has checks, a debit, and a credit card tied to it.