Unless regulated by local laws, I put deposits into a high yield or investment account.

Quote from @Mohammed Rahman: Hey Anna,Yup, people have definitely tried using credit cards to pay mortgages—mainly for points or cash flow, but it comes with trade-offs.Plastiq is the main legit option, but yeah, that 3% fee adds up fast.

I would highly recommend collecting a security deposit.

Once I secured a new tenant I would refund the deposit and there are no damages to you at this point

If they had pets dos this effect the ability to use a security deposit?

Maximum DEPOSIT limit of $15k/mo.

Hopefully you have a signed estoppel saying rent amount, amount paid, security deposit amounts, who owns appliances, and any outstanding “promises”.

A “surety bond” for utilities can be used in some locations, instead of paying a full deposit for utilities. 

What goes around comes around.I never do cash for keys.

If you don't have huge reserves or cash flow up front, build equity and leverage it for your reserves as you grow.