It does sound to me that a lot of that work should have come out of the tenants security deposit 

Secure your spot today and get ready to enjoy everything this beautiful destination has to offer.

Hi BiggerPockets Community,I’m Jaedon, and I’ve spent the last few years helping clients secure business funding to grow their ventures.

I would echo the post about security. 

. - $6k/ month is our freedom number from a W2- Buy & Hold MFH is our plan (turnkey with PM in place)- This quad was built in 2024 and we're able to secure a 3.75% 10 year rateHow's this deal looking or would it make more sense to go another route?

Over the last year, I've developed a passion for real estate and want to be able to use it to generate income and secure financial freedom in the long run.

Provide clear instructions on where and how to pay to avoid confusion.Recover Security Deposits: The current property manager is legally obligated to transfer tenant security deposits to you or the new management company.

The buyer may pay off the remaining balance at any time without penalty.2.Late Payment Penalty: A late payment fee of 5% of the overdue amount will apply if payments are more than 10 days late.3.Loan Security: The property will serve as collateral for the seller-financed loan.Hey @C.S.

So, even if the loan amount is the same, and even if the interest rate is the same, with the terms mirroring the underlying mortgage, the seller will have (1) recourse to foreclose if the buyer stops paying (2) with payments going directly to the seller who then sends payment to the underlying lender the seller will know if and when the buyer has not made a payment, in which case they can choose to make the underlying mortgage payment and proceed to foreclosure, (3) the seller’s legal position is enhanced since he holds a debt security interest in the property (4) the seller may be able to wrap a higher amount than the underlying note and or a higher interest rate and (5) the seller’s credit position may be enhanced since he has the asset of the wrap note offsetting the underlying debt.  

It probably would have cost me about $10k more, but I would have still been able to secure the property.