I also have three other investment properties in New York.

Unfortunately, since you are in NYS, you only have 15 days to return the security deposit, and getting a contractor out there for a quote (much less, three), is not going to happen. 

What a great find, though - a single family turned into basically three streams of income, assuming you get an ADU permitted!

Full security deposit for a three month MTR is causing me to lose business and I need an alternative! 

The others are MIA and I'm out door knocking neighbors (Three this week!) 

Quote from @Chris Tessmann: @Jay Hinrichs this has already been a three month long process in which I have been told the refund was approved and given three separate dates that I was to have the whole refund in hand.

I recently worked on an amendment to some condo plans we did 15+ years ago and I had to re-calculate how we got to what was in the plans and the values changed over two or three iterations as the attorney represented what to include and exclude. 

I went from growing up in a hut in Vietnam and spending my early years in Section 8 housing in the U.S. to now owning four cash-flowing properties (8 units) across three states.

I'd say three months on the short end to six months on the long end.Oh!

Biggest things you’ll want your cpa to guide you through;Material participation- there’s three tests; 500 hours; 100 hours and more than anyone else’s time, and substantially all the activity.