@Mike Dumont so apart from some correspondence detailing how the funds would be handled, I would do the following.Colorado law gives the landlord 30 days to return a security deposit.

Is this true? 

Tons of my out of state clients do this from California, Washington, Oregon, New York, etc.

Investment Info:Small multi-family (2-4 units) buy & hold investment. 3 unit apartment complex What made you interested in investing in this type of deal?

Am interested in a copy of a professional log book as well...thank you...

I have managed properties from small multi's to large communities on and off for over 30 years.

There are/were developments going on last I was out there but not enough for me to want to pursue it at this time.

Quote from @Sean Barnebey: This is a creative scenario with some real potential.

This person will take calls from you and, if needed, willing to meet you at the property.2. family sport This asset benefits everyone.

If for some reason they can't get this sorted out by the next payment date, you should figure out how to physically escrow that payment somewhere...this at least protects your payment until you're confident who it is supposed to go to in the future.