As for the last comment that most threats of legal action, especially those that would be million dollar claims are rare, I would agree with him. 

Transparency and efficiency are key when handling owner/vendor payments.

I have a question about the best place to hold a tenant’s security deposit. Should I keep it in savings? Could I earn interest on it in the short term? Are there any other options I should consider? Tax implications?    

Would love to hear how others handle it.Thanks!

We're at $23k + and we decided to hire a lawyer to handle this.

Quote from @Kyle O'Brien: I’ve heard and seen (BP Forums) that there is an advancement in AI tools being used in real estate lately, and I’m curious; especially as we’ve been helping investors use chat agents for handling inquiries, scheduling, and other repetitive tasks.

Quote from @Devvrat Kumar: For investors doing multiple BRRRR deals each year—how are you handling the impact of multiple hard credit pulls from lenders during cash-out refis?

We could handle two move outs at the same time, but when we hit three at the same time we would have loved to outsource it.We would also love to have someone else hire and monitor landscaping, all maintenance, verifying previous landlords and employment, or rent collection while we are out of town.

How are you handling due diligence on smaller, one-off deals versus larger pools?

Quote from @Kelly Schroeder: I would agree there is overlap in property management and flipping properties for lessons on getting things handled along with managing what needs to be managed.