When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.

There's a few other exceptions such as a tax lawyer, but I find that a lot of folks find comfort in just having me respond to any notices that they might get.

While there are some markets I feel are so saturated it is near impossible to be successful in todays market (Orlando), in most competitive markets you can be successful if a) have reasonable expectations and b) do everything right (price, location, pro design, pro photos, etc etc). 

I have around 20-30k that I can let go of semi-comfortably and that can be enough in the small market.

The new design takes the home from a 3 bed, 2 bath to a 4 bed, 3 bath, 2,400 sq ft rambler on a large lot in highly desired area.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

I went from barely breaking even to walking away with a very comfortable profit.This experience taught me two critical lessons:Never give up when the situation looks bleak.

The lessons you learned the hard way in 2008 will be invaluable now, and it’s great that you’re aiming to stay small-scale and within your comfort zone of Sacramento, which gives you an advantage of knowledge in that market.Given your experience, I'd say start by focusing on three key areas to build confidence and minimize risks:Budget Control: Over-renovating was one of the big mistakes you mentioned.

It took new construction costs from $800-2500 down to $325 / SF and instead of 2 years it can be done in 8-12 months (design, permits, fabrication, shipping, and erection) depending on how much homeowners customized the standard plans. 

So I picked up a few books which includes, "The Book on Investing In Real Estate With No (and Low) Money Down," and "The Book on Rental Property Investing," both by Brandon Turner, which introduced me to the BiggerPockets community.With a decade of experience in property management under my belt, along with my property management certifications and an NC real estate broker’s license (with Broker-In-Charge designation), I’m eager to leverage my background to secure long-term financial stability for my family.