Full disclosure my company is one of the larger property managers in the area but there are a few others that I have had positive experiences with that can share for your research if you would like.The best strategy will be the one that matches your skill level, resources and tolerance for risk.

Indemnification agreements are common, security deposits may be or include offsets, assignments of bonds, insurance, receipts, etc. such usually in a larger complex.....how many sq ft are you looking at? 

Massachusetts has extremely strict laws for handling security deposits.

I simply take the full deposit on the date of move-in and pro-rate the remaining month's rent.But yes, hustle to get it looking great (especially since you've just closed on it and you'll be highly motivated to get into it).  

Hi I'm new to the group, but find it great educational material.I'm renting my condo in Florida through RE agent, and come to a situation where agent found a potential tenant for me, now the agent insists that I sign the lease with tenant and tenant is approved by Homeowners association before forwarding first/last moth rend and security deposit to me.

This is in Richmond, VAI have already paid a deposit of $1000 on this property but after running the numbers through the calculator on BP and accounting for 10% vacancy, 15% Repair & Cap EX COMBINED and paying for water at $50 this property comes in at 6%-8% cap rate and it seems like it has the potential to be a money pit or at least no returns.My question is am I being overly cautious or should I cut my losses on this one and back out of the deal?

This app gives you many resources such as audio, videos, vocab, matching games and tests.

I'm hoping some can share or tell us from your experience any items that are crucial to include on the following:List for tenants departing,  check list for cleaning etc.Walk through check list new tenant.Hand out to educate new renters for what is expected, rent payments to be sent/deposited to: (new owner). 

I'm hoping some can share or tell us from your experience any items that are crucial to include on the following:List for tenants departing,  check list for cleaning etc.Walk through check list new tenant.Hand out to educate new renters for what is expected, rent payments to be sent/deposited to: (new owner). 

One of the great resources is from two of BP's own members http://www.biggerpockets.com/renewsblog/2012/10/19...Well worth the time spent to look at turnkey providers, several of whom are active members of BP.The biggest questions you will face are what are your goals, and how do they match the different markets.