But I would never buy anything that did not have a lot of instant equity..

Of those that require repairs, everything is covered by their deposit.

Here's an explanation of the law: https://portal.ct.gov/dob/rental-security-deposits/rental-se...You must send an itemized list of deductions.

Real estate is a slow game, where you don't become instantly, but its return can be beneficial in the long run.

Agent just alerted me to the new Maryland HB693 bill that went into effect Oct. 1 2024 limiting security deposits to 1 months rent.

As the current tenants been there for some times, deposits as well as the rents seems to be lower than what the market suggests.

Currently, my setup is a separate bank account with it's own debit card to hold deposits, track expenses, and track income.

In Florida they tenant loses their deposit and has to pay double rents.

. - Making sure their responsibilities and your responsibilities are clearly defined, giving heads up about workers coming in to do upgrades/maintenance, being proactive about renewals, deposits, strict about the lease agreement (but lenient when it makes sense), etc. has been instrumental. 2.

You can do things like request updated tenant information, new signed leases that kick in at close of escrow, rekey or get key copies, estoppel agreements (outlining the deposits held by the selling owner),  etc.