We collect security deposits to cover cleaning or damages that may arise out of the tenancy.

I avoid buying any deals with any major negatives to it such as busy streets, near railroad tracks, in airport flight paths, having a large number of stairs to climb from street to front door, commercial unit next to or behind it (unless the play is to convert the usage of course), or any major factor that will hinder your buyers pool With a smaller buyers pool comes less competition for your unit and therefore, typically will make it more difficult to sell (longer hold times) and for less than the model match on a non busy street or without major detrimental factors.This opinion of mine comes from 15 years of experience and making some of these mistakes.

Do you have the rent deposited into your personal checking account, one business checking account, or do you have individual business checking accounts for each property? 

I kept their deposits.

You will need leases and deposit checks at closing.

@Dil NaikThe partnership / LLC name should be the one registered with Airbnb.EIN's should match up with the entity / owner receiving the income.If the property is held inside of an LLC, then the EIN with the 1099-K should go to the LLC.Best of luck

What are your thoughts on 2 month's rent security deposit?

They are given a check list, but if the place is dirty, I get it cleaned and it comes out of their deposit.

When I asked Saunya to go take a look at the house again to see if MW had performed some repairs I demanded that he do before I pay any additional payment, she found out that the tenant had already moved in.I found late that (I'll include these in point form to try to keep this from being a 100-page read):-tenant had moved in by the time MW told me about this potential tenant-tenant had paid a $2,000 security deposit and close to 2.5 months rent all of which MW pocketed as his claim that I still owed him money (I refused to pay him anything until all the deficiencies were completed)-I still don't recall signing a property management agreement with MW so somehow he just rented out my house without my acknowledgement and of course pocketed the rent money and the security depositI don't know why it took me so long but by the end of October, depending on who you talk to, I either fired MW (even though we didn't have an agreement) or MW fired me as an owner.

It is not about greed, it is about getting maximum value from your project and matching the demand/price point.