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.

If you have a 20 year timeline, I'd probably recommend B areas closer to the city or in the better school districts in the suburbs for the highest combined ROI over that time period.Right now you can expect to find decently turnkey multis for about $60-$125k/unit usually all at least hitting the 1% rule in that range.

This is what I recommend to new investors who contact me asking if these numbers look good. 

I would recommend you use the profile page BP.  

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I work with a lot of househackers and they're typically on the 12 month cycle, rinse and repeat.While the proposition of acquiring an investment property outside of your market in a "landlord friendly" state may sound appealing, i would recommend you stay local for now and househack another couple of properties over the next few years until you've got some more time / experience under your belt.you would need a management company to cover your property that is outside of your market which would not only take 8-10% of your gross it would also leave you a bit vulnerable to a property management company that you A.)know nothing about and B.)you won't have the experience or cashflow or proximity to deal with any headaches that may arise.i would recommend staying local and househacking your way along for now and then maybe hire a local property management company initially to work with your current/local properties to get a taste of what to expect if and when you begin investing outside of your market.

If you're open to expanding your search, I also recommend checking Columbus OH - lots of deals that still bring positive cash flow and great appreciation potential.

@Brian Kloft I'd be happy to help where I can.

Yet when The Mortgage Shop openly admits that my loan fell through the cracks due to staffing issues, I was given misinformation regarding my rental analysis, and as a result missed my window to back out of the deal — not even an apology, at least not until I wrote them and asked for one.As a result, despite my previous loan with The Mortgage Shop, I do not recommend them.

Do you have any recommendations for learning how wholesale contracts work and learning more about the wholesaling process?