If you're parents are going go receive any money from that then they will have to take depreciation then on that property and it will appear on their schedule E as well (upon sale they have to recapture any depreciation they took or could have taken so watch out for that).If you go further the route @Corby Goade suggests with a deeding you'll want your accountant to advise on gift tax consequences or use of the one time limitation. 

We talked about training tenants and keeping them accountable for small repairs on things they break (generally under $150 and things that can reasonably be shown they caused to break, but generally not plumbing and electrical).

I do have a “safety” stockpile account where I store money for these purposes: taxes, returned security deposits, etc.I have a w-2 job and am having taxes taken out for that.

what is the penalty in PA for not depositing a security deposit into an escrow account or bond...over 1 year since lease started and security deposit paid

Again I have a low paying job and live in a high priced area... so thats why I'm hoping to go this route than a hard money lender.If all of this goes as planned and I flip enough properties for a profit, all of my proceeds will be put into a savings account and used to buy an apartment complex at some point in the future.So thats pretty much it, before all this I thought about doing wholesaling but know its harder to get sellers to sign their homes to you and I've never been a good salesman either, let alone any potential legal issues with it... so I don't think that's the right path for me.Any input would be GREATLY appreciated!!

Pay yourself rent into your account for you can save that for maintenance or potentially your next property.

Account ClosedThank you for your input!

The next step is to wire the 3% Earnest money deposit to an escrow company with a wells fargo account.

She's lived there for over three months and hadn't set up her own utility accounts or paid her deposit.

It is a value created according to a government formula intended to reflect the true annual cost of borrowing, expressed as a percentage.