Provide clear instructions on where and how to pay to avoid confusion.Recover Security Deposits: The current property manager is legally obligated to transfer tenant security deposits to you or the new management company.

They’re ideal for those building portfolios, as they don’t require extensive personal financial documentation.A key tip is to ensure the property’s cash flow comfortably exceeds the lender’s DSCR requirement (typically 1.25x or higher).

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

They are even working on getting me the evicted tenant's security deposit, the missing JANUARY rent since the place is still empty, and covering the cost of my own manager re-listing the property.

Separate accounts per property incurs a lot of overhead, such as minimum balances or fees for missing the minimum.I use separate accounts for each tenant's security deposits.

They want to secure housing before they arrive.

So I did a 3-2-1 buydown and secured a 2.875% interest loan for the first year of the loan, and it will gradually go up a percent each year until it hits my rate of 5.875%!

Essentially, it was one account with the bank tracking individual tenant details on your behalf.That said, it’s critical to ensure your financial records remain accurate by reconciling the account on a monthly basis.

With fluctuating interest rates, tighter lending criteria, and increased competition for properties, securing the right financing has become a key factor in closing deals and maximizing ROI.Are you exploring creative options like BRRRR, partnerships, or seller financing?

Just ensure the agreement is clear and formalized.Pooling reserves across properties might make sense if you’re confident in your cash flow and other contingencies.