Some of my previous tenants will have 20k in their bank account but just stink at paying their bills on time. 

Account Closed , Yes, homestead exemption dropsyour property taxes down for personal residence vs rental. 

They will issue you checks against that equity or just provide an account to transfer funds from.  

Account Closed Thank you very much, and your in my other state I frequently visit. :) 

Account Closed Thank you for all the resources.

@Al Mardrus, i didn't watch the webinar so cant comment specifically.But can say that if he put this price and the down payment together with stating the interest rate and length of the loan it would be included. you may want to re watch the recording and see what numbers he plugged in.you will need to be at least 4k a month rent to cash flow $700 if he accounted for all expenses. he may have not. you can play with the BP calculator and see how the underwriting change as you change the data/ numbers you insert.just play with it a little and see.

My accountant told me I do not need to create all these entities just need to have good insurance for each rental.

I give that type of info to my accountants, they understand the goal, tell me how to put it in QBs, and make it happen and it is generally pretty good plan. 

DO NOT SPEND MONEY ON ANY EDUCATION YET, 95% of what you need to know you can learn for free.Step 5: Figure out how to live off W (less then you earn)Step 6: Open a savings account and put your savings into it (X+Y+Z)-W= S (Savings).  

I feel that these guys are falling behind because they are underbudgetting and do not have the accounting to support them to realize that they are not making money.