Banks might not pay interest on escrow accounts, if they do, and the tenant is entitled to interest, then you may be able to charge the maintenance fees of the account to the interest earned and allow any excess to be credited to the tenant.

Hiring a property manager eats into a lot, if not most of the profits in excess of what you could make with a standard long term rental.

 maybe you can find someone local with excess furniture to deploy (like a staging company).

As long as you have sufficient cash reserves, keeping the excess cash flow working is a fantastic idea. $200/mo (for example) isn't enough to go buy another property right away, but it is enough to automatically buy a couple shares of VTSAX or whatever. 

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

No state income tax, grass to tend, no ice/snow, humidity/excessive rain, storms with names, floods, earthquakes but with reasonable to great property tax rates and less LL-tenant regulation. 

In 2024 we are seeing a strong rebound as the market purged the excess supply (at least in our primary market - Tampa) and purged a lot of investors who likely should have never been in the market. 

(But like a prior poster am suspicious of 2-county involvement and excessive delays).   

Both are experienced, successful, veteran investors - 20+ years and each has an excess of 15 million in property.

They sign both and are given a copy of the reasons for declining (evictions, drugs, bad landlord reference, excessive collections etc).When declined, we send an email or form letter stating why --referencing our criteria -- you protect yourself and they usually do not contest your decision.