Then the next step is a collection agency and they take a % and if it's small some agency's don't even bother.With your next renter set your rental criteria so you can screen potential renters that will qualify better than the old ones.

Before you set it up I would advise assessing your own resources (time, capital, skills) that you can provide to the partnership and anticipate what you think an ideal partner would also bring.  

Should I put a percentage of my rental income aside or should I pick a set amount?

I would have the system pressure tested before you decide to start repairing.We bought a duplex where the bank had let the oil run out and the heating system froze.  

Having to fork out the money for one of those early on can really set you back.  

Or is there something you can set up with the bank and show them proof that the funds are there in a separate account?

We are set to close this month and are trying to learn everything we can about management.

With some cash, some education, and the right mind set opportunity will abound.

I've been looking for solid real estate related data sets online.

Set up a keyword search for Tampa and Florida and any of your particular types of investing or other interests.