To your case specifically, it would collect both your rent, and your utilities,  and deposit the money into your checking account.  

Inventory reached 1.55 million homes, matching a five-year high — though still below pre-COVID levels.📊 Bottom line: These closings reflect buyers shopping back in July and August, before rates began to dip.

Dear Beneficiary,I wish to inform you that your compensation and settlement funds/payment total sum of $8.5 million dollars has been deposited in this bank by the United Nations and the Africa's Fund settlement Committee (AFSC), we have been instructed to release this funds to you as soon as possible and after our meeting today we have agreed to pay you via online bank transfer by opening an offshore account in your name in this bank, after that we will credit your total funds into your offshore account and send the login details to you.Get back to us as soon as possible for the offshore account opening form.Kind RegardsMr.

It is usually cheaper to insure them individually as you can better match the risk to the best carrier.

One lesser-known tool I’ve seen investors use is EMD financing — basically a short-term advance on the earnest money deposit.

I'm all ready to go ahead.So, I recommend the Holding Deposit.   

Quote from @Maya Jones: You should get something agreed upon for the tenants living and the remaining rent/security deposit if there is something changing from the existing lease. 

Then with the rest you update it, make sure the staff is tip top, and create more value to increase your monthly revenue.Questions would be; would the management company or key employees stay, any litigation currently, current controls in place for accidents/deaths(then check local guidelines on this), Red flags would be financials and tax returns not matching up, again the accountant should help with this, but definitely request it.

Banks are definitely still involved, from what I'm seeing, even if brokers and borrowers might need to cast a little wider of a net to find one interested.For reference, about 2/3 of the loan quotes in the past 24 hours that've come through the lender matching platform I work for have been from banks.

Last, talk with a CPA about federal gift tax limits and basis implications for you and your parents before you set numbers, so the paperwork matches the tax plan