Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Quote from @Sonja Revells: @Chris Seveney primarily Padsplits  I would speak to a few lenders first before going through all these hoops, as I started to do this then when talking to banks they were basically telling me either get a secured mortgage as they will not lend to a real estate company on unsecured credit/debt.

I think a bit more info is needed to fully understand but it sounds like this is your first deal, & I would first start off by finding the deals & then securing the PM company.

.$69.99 eufy SoloCam S220 Solar Powered - https://www.amazon.com/eufy-Security-Continuous-Resolution-C...We did buy these for the rental but I haven't installed them.

If your DSCR has improved or market rates have dropped, refinancing might secure you better terms and improve cash flow.

I recommend having your deals secured by a mortgage and a promissory note for your investors.

Quote from @Jason Taken: did you actually have a secured lien?

While I secured the initial financing for the property, I have two other partners/groupings (a total of 6 people) that are contributing to the closing. 

But if do a BRRRR from far away that's risky too, without a really good and trustworthy team in place and lots of checks and balances (security cameras, someone local to check on your property) and the ARV and refinance aspect can be challenging.  

The security deposit should never be used for anything during the lease.