@Sam TrightBesides the other comments above you also start really walking or crossing the fine line of selling securities when you start bundling up parts of a note and selling it to different people.

And where do you think you can get rents.We've been able to secure 80% loan to cost on these types of deals with a credit union recently. 6% is a good rate, but I would see if you can shop around the LTVGood luckGino

Should I have them pay right now or out of security deposit whenever they move out? 

State/local are determined by your state of residence, not the state the property securing a loan you hold, or property you own is located in.  

I don't delegate bookkeeping for security reasons.I finally realized that at this time in my life, it is much better for me to pay a bookkeeper. 

Also, is he entitled to the security deposit (minus any repair expenses)?

If they want a security alarm, they pay for it (not really an issue here). 

If you want to proceed, please gather these few documents, and email them over to me.Photo ID: Please provide a clear copy of your valid photo identification.Proof of Social Security Number: Documentation confirming your Social Security Number.Homeowner Insurance Declaration Page: Is the cover letter with your policy number and coverage amounts.

As a new note flipper and new note investor, I've gotten my 1st note flip deal under contract yesterday w/ my note buying instructor & mentor Donna Bauer that is secured by a property in TX.

This could be a useful strategy if you need more time to negotiate a good price for your current property.Exploring Financing Options: Given the higher interest rates in 2024, securing financing for your replacement property can be a challenge.