When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.

If you didn't move quickly to execute your value add you might find yourself stuck in a similar situation. 

You may also want to call local property management companies to get their estimated rental amount and their feel for the rental appeal of your property in the area, etc.* Talk to your tax professional and find out what your tax implications are from inheriting the property to buying out your brother and putting it in an LLC, etc. * Also find out if the property's tax assessment changes with any of the scenarios above.

- The Skeptics Take.The Weekly 3: News, Data and Education to Keep You Informed- Elon Musk's AI company @xai is planning to build the most advanced supercomputer in the United States, in Memphis.

The security deposit would also be transferred to the new owner (although you are bound by the original lease to return it after damages are paid when they move out) and a lease supersedes a sale so the current lease stays in place, you don't need to sign a new one. 

Only difference in the last few years is I have a virtual bookkeeping company and a property manager.

There is a company that will take common space and convert to BR to maximize rent by room space.  

Um…why were those still there when they moved in?

I also own a property management company that operates all over Florida, so hit me up if you need connections to reliable vendors or contractors.

Otherwise, you can achieve it by gathering a team, hiring a project manager, partnering with a sweat equity partner, or using turnkey BRRRR companies.