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.

G'Day Matt,You can only do so much with online research.IMO the online stats and demographics often times don't paint the correct picture.This especially tends to be the case for tertiary markets.Finding folks on the ground that "live and breath" the market is your key to success.Those folks on the ground are the one's that bring the "online stats and demographics" to life per se.They will know more accurately what's going on in their local market pretty much on a daily basis.I've always said that you can research online and find a market that has the best growth and cashflow potential.Find a property for a great price and on a great street and in a great area.But if your property manager or contractor are incompetent or cheats.You will loose money.So start with finding the right people first before finding the right market or deal.Just my opinion.Thanks 

Due to the excessive demand of shelter in NYC the city had to develop strategic programs to assist people with moving out of shelter and with the explosion of rent prices in NYC many people are looking to other cities close to NYC such as Newark, Irvington, Jersey City, etc.. to find apartments they can afford. 

With boomers retireing and zoomers comming in we loose about half a million of workers every year, this will increase to 1 million in a few years.

@John ParkI don’t find those fees excessive for those amenities.

You can do self directed IRAs and 401ks, but it complicates things a lot and you loose depreciation.   

How much would one typically loose in taxes off the profit you just made.

If property management is not chosen wisely you can loose a lot of money very fast.

In the end; they would have had to dig-down the basement in order to achieve the necessary height, and then ended up just deciding to vacate the basement and convert it to "Heat and Storage" and ended up loosing all of their rentable potential from the basement level...Most of our clients see it as too much of a risk to try to keep the existing basement floor when it is around 6'-11" - 7'-1" rough.

Pest control- we put mouse bait out along the fencelines and under the units, mow excess weeds and grass.