Posted by Steve-nc on August 12, 2003 at 11:28:14:
John-
It all depends on how you are buying your properties. If you are financing through a lender. Conventionaly, you will not need an escrow account if your down payment is 20% or more. Or, if you already have a property that will appraise 20% above the principal balance you do not need an escrow account. Not to mention no mortgage insurance as well.
No negative reasons not to do this. Unless you may have problems setting a side the cash for the taxes & insurance. For myself, I would rather have the cash in my account collecting interest and in my control.
Steve-nc