Lurking as I'm in a similar scenario IF I sell an owned property currently being used as a rental in my home state.Ill apologize in advance for hijacking the post but wanted to keep this public for others' input too.

To stay secure, I’d recommend saving 3-6 months of mortgage payments, budgeting for repairs, and possibly investing in a home warranty.

My updated expected monthly rental income will be $2,800, resulting in a cash flow of $795 per month (excluding my share of the split utilities).I plan to set aside at least 80% of my cash flow for property-related expenses.Additionally, I’ll be installing keypads and security cameras for enhanced safety and operational efficiency.

Agree with @Jeff Pollack on having the guts to leave the security of a JOB.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

The lender lent based on them being one thing which secures the debt.

Also, right now we are utilizing FB but we may change this next year to a platform outside of FB for better interaction and more security.

This also creates quite a level of security for our clients, especially seeing Several builders in the BTR space go sideways over the last few months and we are currently trying to help several investors stuck in building projects that are only half built.  

I have a clause in the lease that says the security deposit will be held in so and so bank with so and so address and interest rate will be xyz.

I’ve used public records in Texas to identify estates in transition.