In a way it feels like the City is making it more difficult for landlords to hang around because yearly inspections with a laundry list of repairs makes it real difficult to cash flow when my cash flow is just being held for the future, inevitable inspection.My opinion/thoughts.

Keep in mind that this program is geared towards investors who are really green and would benefit from having their hand held through their first deal.  

Are you willing to risk the unknown (tenant moves, time your property will be vacant, repairs or clean up to  get the place marketed again, you get a new tenant who isn't as good etc.)Obviously you can't nor shouldn't be held hostage by the fear of your tenant leaving and having to face the inevitable.

My personal policy is with State Farm and so is my landlord policy held under my LLC...and the 2 cannot be accessed online except if my insurance agent connects them...which she has repeatedly said is not possible despite State Farm tech support saying that's the only way. 

. # units, time left on debt, how many years held, whatever you're focusing on.We've also had some success using wholesalers to bring us deals.

@Steven Schafer don't fall for those tenant negative stories about PMCs.A significant portion of these tenants are really complaining about being held accountable to the terms of their lease!

Hi as Steve and Jason pointed out it is very important to keep funds seperate.You will need an escrow account, if it's required by law, your account will need to be titled XYZ ESCROW ACCOUNT, if not so required, it can be any account but ONLY deposits and funds held in trust should ever be depoisited to this account and any withdrawl should be well noted on the check and on your books.If you comingle you accounts and you need paper towels to clean units, the IRS can simply disallow your deduction saying it was used at home since it was paid from a personal account or one of comingled funds.I too would suggest you formalize a business entity, an LLC probably.

I have my rentals (3 STRs and one LTR) in separate LLCs held by my trust.

Plus Florida auctions are held there year-round.

I know that in the past all held security deposits needed to be stored in their own dedicated TRUST bank account in Missouri.