AJ Golden IMHO, that depends on what kind of income, "line of credit," insurance deductibles, and risk you can handle.

I mentioned above that in my opinion right now, unless you are extremely talented, experienced and have the time to analyze deals and find markets that are attractive, its getting more challenging.  

If the contractor estimate is needed for me to bid on something but contractor will not come over unless it is paid for to do an estimate but since I am not sure if I will win the bid and can't justify an estimation expense, how do I handle the situation?

Any tips on handling the tenant, the security deposit, and the current management company?

I am trying to learn as much as possible, because I know evictions can cost a lot of money if handled incorrectly and be crushing to the investor.

If you purchase a property and inherit the tenants, tenants who most likely paid security deposits at one point, how is the legal transfer of the security deposit money handled?

@Albert Bui or @Upen Patel do either of you have thoughts on this situation and how to best handle it?

I can handle all of that.

Any advice on how to handle the situation, or mistakes to avoid?  

is accounted for is probably the most challenging factor.