Our cost = $75 one time attorney fee.14 - Handles everything online with immediate up to date access.15 - Auto deposits into account of choice16 - Sets up auto collection of rent online.17 - Provides our tenants with online access to their account so they can make payments, see repair status, make complaints or reports, etc...18 - Pays for any overages on maintenance not covered by cash reserve, and allows us to reimburse with cash flow19 - Handles an Annual property inspection for us at no extra charge.20 - Gives us a volume discount...like I said, I won't analyze a property without them, and won't leave home without them.

That's how bank does it for all the deposits we have in their bank, they are leveraging our money and invest it for a better returns.

Suggest he deposit direct avoid that no non-sense talk....

I spend the last three days via email and a few phone chats discussing with the owner how a lease option works, and how a non refundable deposit secures her asset and the inevitable sale (what tenant would want to walk away from a $12,000 deposit that could be applied to the purchase of a new home) after some details and some exchanges, we have a solution that works for the buyer and the seller.

All money would be deposit into the LLC’s Checking account.

., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

If it's all under your name it is fine to have one account for now, although some places have rules for a separate account to hold deposits on long term rentals,  not sure if that applies here...

Does anyone know if there is a Insurance that protects rentals from tenant damage over the deposit amount?

One month's rent and pet security (which is equal to one months rent) was given to me at lease signing and all four are asking the pet security be given to the two that are leaving, as their money back for deposit.

Mitigate your risk by requiring a higher security deposit.