Or do I have to apply any prepaid rents before they become deliquent? 

Deposit your cash each and Get debit cards for each of you and use it for all expenses.

If the same happens to my debit card, then actual money is tied up. 

$3,000-5,000 should cover closing costs and prepaid items (taxes, insurance, escrows, inspections) at that sales price2) Is putting 5% down wise or unwise?

my business account is with Bank of America.. they have visa deposit only debit cards.. it can only make deposits and it will post right to your business account

I would appreciate your advice about  the correct numbers to use when estimating closing costs while running the numbers for our next purchase.This is an example of the closing costs for a rental that we purchased for $105,000.Loan Charges:  Origination & prepaid  interest:  $1,000Title Charges & Escrow/Settelment:  $1,600Impound Charges:  Tax & Insurance:  $1,500Total:  $4,100Which of the charges should be entered into the closing cost field?  

And the second family, although they also have low credit scores, the score is based on the fact they don't use credit they do have some collections but the debit amounts are very low.What kind of CMA work do I need to do before I deny the first family? 

Is there also a release of collateral document in the event we prepaid the loan early to the borrower ?

Bryan Chambers will accept your pre-paid Loan Application fee in all 50 states... but you'll never get a loan.

Also, make sure your tenant pays online using a recurring payment method [Paypal, bank direct debit, Zenmo, Zelle].