Not just emergency repairs, but also pro-active repairs like keeping track of the roof, exterior spaces like porches and decks, mechanical, common spaces and grounds. 

Can I place the money in a business checking account or does it need some other line of tracking? 

What company is backing the policy and their track record?

Unfortunately, after doing so I remembered that I have two IRA accounts that I had somewhat lost track of.

Lately I’ve been getting a few hits a day on that old post. need to track it down and delete it I’ve already hired someone. 

For non-RE professionals, sellers or companies sometimes require ID to keep track of every person who visits the property.Best of luck to you on your first deal!

Unless you have a strong track record and existing relationship, I'd look to other options.

I am in no rush to leave my property, but I do like to stay on track with schedule.

Now add in the time to find and vet a property, complete a renovation (if necessary), and rent it out.Private lenders and HML are pretty much off the table right now, since you have no track record.You can absolutely find and execute a deal, just don't get discouraged when it takes longer than you think.

Track when you sent, who replied and when.