This will give you good experience on setting boundaries and expectations on receiving rent on time, handling tenant concerns, handling deposits, etc. 

.- Accepting e-payments from tenants, direct deposits for owners, all within Propertyware.

When they move out, make sure you find out that the balance on all utility bills is zero before refunding them the security deposit.

I would not hesitate to keep your deposit if your financing did not come through.

One of the people I knew personally who was sort of "targeted" by the city was also buying multiple properties and did fix many up without a doubt, but also broke a lot of rules, some minor and some major, like playing fast and loose with tenants security deposits, which is usually "landlord suicide" here.

Collect a pet deposit, but remember that a "pet deposit" termed as such can only be used for pet damage and not just any damage. 

There is no wholesaler fee included - I have the GFE and while the origination fee is around $2,000, the other settlement services include:Appraisal and Appraiser Management Fees ($550)Credit Report ($200)Flood Certification ($5)Government recording charges ($62)Title Services ($818)Title Insurance ($265)Escrow Deposit for taxes/insurance ($400)Homeowner's Insurance ($600)That really kicks it up.

Example, buy a class a property (newer building & higher quality tenants), rent will most likely be direct deposited to you and or all checks will be there by the 1st. maintenance costs lower and tenant calls will remain lower.

You could even use your 1031 funds as non-refundable earnest deposits if the seller doesn't have the money to complete repairs but watch out.  

I was in contract with a property in July and i was told the seller refused to sign the release of the earnest money deposit.