That is a very important distinction.

@Rian Ash it sounds like you are talking about a conventional style loan (Fannie/Freddie) if it's a commercial loan let me know because the answer will be different.There is a distinct difference here between Fannie and Freddie with this answer but basically you would need a statement to reflect her name on it. 

Why is the distinction important?

Thanks for your comments.Everyone has a distinct sales style, so your mileage may vary.

I agree with @Derek Carroll on the distinction between properties that are outright mine vs those I manage or am in another type of partnership with. 

There is no distinction from a licensure standpoint to be representing residential or commercial properties. 

Even if they are real, if these are high end tenants, there is a good chance it's just a friend doing them a favor and playing the odds that it will scare you into complying,Assuming your state Landlord tenant laws allow, I would inform them that they broke they lease (certified mail, heck, if you know an attorney, check with them, they might write something up for for a reasonable fee, what's good for the goose...) and you will be retaining the deposits to cover the last two months of rent owing.For the future, you might consider some adjustments to your lease.In my state, fees and deposits are clearly and distinctly different in at least one key regard:  All "deposits" are refundable, even if you were to state a deposit was non-refundable in your lease, state law would over rule and you could be forced into refunding a deposit.For that reason, I never collect any deposits, everything is clearly stated as a "fee", as being non-refundable, and further spelled out that any exceptions for being refundable are at the sole discretion of me.I also collect "last month's rent" and it is clearly stated as such in the lease, it is not a deposit, it is a prepayment of the last months rent, and hence, the only way they ever get the last month's rent back, is when they use towards their last months rent  (this has never been a problem).I agree, that you really have lucked out here, if they didn't damage the property, them moving out is really a blessing, even if for some insane reason you did and up giving them half the deposit back.Document everything. 

Since I don't know what exactly you are looking at I can't say for sure if you are looking at ads where you need to supply your own land or not, but if it is that much cheaper than everything else it seems like a distinct possibility.

Because that is an important distinction to make.For you situation, say you put 30% down and borrowed 70% LTV.

Whether you get a new loan yourself or assume one is mostly immaterial to you, outside of the terms of the loan itself.Assuming a loan is distinct from seller-financing, though, so be sure not to use the two interchangeably.Hope that helps!