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).

It’s standard practice and an essential safeguard for landlords.Trust your instincts and treat this as a non-negotiable policy.

I typically advise investors to wait until after closing before quitclaiming a property into their LLC.

Meaning, the bank wants to see that a property cash flows for typically one to two years of tax returns before they count it as income. 

However, required downpayments were typically 40-50%, and would be difficult without a residency visa.

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

It will include a compact bathroom, a tiny kitchen area, and a heater—just the essentials to make it comfortable for someone to stay in.

Condo's are usually on the cheaper end of cost for appraisal reports, typically not $750 (but if it's a high end condo or in an area with there's some complexity, the fee can reflect that). 

@Alec Barnes As the owner of a property management company in Texas, I completely agree that a solid screening process is essential for placing quality tenants.

All too typical park owner who took all the profit out of the park without reinvesting in the business then wants to sell you the potential he was too cheap to invest in.