When its included in a lease for real estate then the laws pertaining to residential rental security deposits in your state apply but when its separate you should have more leeway to get some additional deposit to protect you.

To give you an idea of how we approach it, we assume the worst-case scenario right from the start is 9-12 months of no rent, $5,000 in legal fees, and an additional $5,000 in expenses to deal with moving their stuff, putting it in storage, and dealing with health code violations or NOV's from the city during the process. 

Prompt, great communication, efficient ... and most importantly they are 100% legit 😉

You may also need to provide additional documentation, such as proof of income and employment, and may need to have a co-signer who is a U.S. citizen or permanent resident.In terms of buying with an LLC, it can be a good option for some foreign buyers, as it can provide additional liability protection and potentially offer tax benefits.

Additionally, I have one savings account for reserves for all my properties, which I add to every month. 

Then we review the submitted file items and come back with questions or ask for additional documents it is a normal process.

Any additional input would be great.

Latest update is distributions have paused and they are now raising additional capital. 

Are you looking to do additional projects like this in other cities/states?

I’m involved in a private LLC that owns land in which we are asked to provide additional $ for property taxes every year.