Since this is my first property purchase ever, I wonder how escrow accounts, etc for property taxes would work.  

The rehab took a lot longer than what I wanted, and there were a few things that we hadn't accounted for, but we officially finished in February this year. 

We have a substantial amount saved, and instead of buying a single-family home, we thought it would be a good idea to do a house hack for a year in a multi-unit as a way to enter the investing space and then buy our single-family home.

Eventually I will invest in cash flowing properties out of state.I'm looking for tips and advice on being a land lord such as maintenance, rent collection, taxes/accounting, legal, and things you wish you would/wouldn't have done starting out.

In order to make sure you're optimizing your tax advantages and adhering to all applicable requirements, even while I can offer broad advise, I suggest speaking with a tax professional or accountant who is knowledgeable with real estate taxation.

Purchase price: $250,000 Cash invested: $500,000 Single Family Home with detached ADU.

This lease does not change the length of your lease term (month-to-month); it simply updates relevant matters now that I will be assisting you with your housing needs.Beginning with rent for the month of September, please pay your rent by depositing the entire amount into the following bank account at (your) Bank: account # 123456; routing # 123456.

I would not want to move money from an after tax account to a pre tax account even if allowed.

Run the numbers and you may be better off keeping your money in a deposit account that earns 5% (or look for something even higher) than buying a rental. 

I currently have a few single-family homes and I recently gave all of my tenants notice.