In the state of Florida, you should have two bank accounts, operating and escrow. 

This is the kind of thing the bank you keep all your operating funds in should be happy to help you with. 

If you decide to operate one outside of their desired areas, they will come after you with hefty fines.

One thing I always remind people is it does not matter what is on a powerpoint presentation, the deal is dictated by whats in the PPM, operating agreement and subscription agreement. 

Are you doing the work yourself or what is your plan on tackling the operations? 

There are a ton of tools and resources that not a lot of people know so doing some YT watching and their training helps immensely. also, happy to answer any questions you might have on set up / operations.

A property management company cannot operate using the logic that it hasn't been that cold yet.

And, I think most women would choose a midwife that has gone through pregnancy.Like the OBGYN situation, there is a lot a CPA may not know about the rental business from debiting and crediting some journals and filling out line 242 on some Turbo Tax input form.And, understanding the operating details of the rental business are just as different from preparing a tax return as being pregnant is from delivering a baby. 

Operated as an executive high-end rental for 2 years and cash flowed nicely while rented.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.