I find that a lot of my bookkeeping clients do not save money for taxes, repair or event those security deposits. 

We also require initial payments to be made in good funds for rent and security deposit, which helps to solve a lot of the asset verification.

I don't know the California market, but I have seen a lot in the greater Puget Sound WA. 

Turns out a lot has happened since then and I purchased another property in February 2013, a Triplex out in Germantown, which I currently owner occupy.

Since you're a realtor it won't cost you much to list it, and people will pay a lot of money to get a low rate with a higher amount going to the principal than initially.

And of course, if you can fly out and visit a couple times that would help a lot!

As an 18 year Hawaii resident, the article misses a lot of the subtleties of vacation rental ownership.

You don't necessarily need a really built out one though - even just using an AirTable base (there are a lot of free templates out there) would probably give you what you need to stay organized.

You never know how fast regulations can change, and if you have multiple exit strategies you mitigate a lot of unexpected risk. 

I fund a LOT of double closings for wholesalers, but I personally do not fund a wholesalers EMD, just the final amount owed on the AB side of their double closing.I know some folks that do, and they have their contracts that protect them.