In addition to the management fee and interest, you may encounter several other costs when securing a private loan.

But I am open to it if I can use the security deposit to replace the carpet (not sure to what extent it is legal).I was thinking of getting landlord rental protection from Zillow to cover pet costs but my premium will probably shoot up since the place is carpeted.Would love your thoughts on this dilemma!

Here in Nevada, these shenanigans would cost the landlord twice the security deposit in small claims court.

One to hold all the security deposits and the other for collecting rent and paying your bills.

Typically, you’ll need a promissory note (outlining the loan terms, interest rate, repayment schedule, etc.) and either a deed of trust or mortgage to secure your interest in the property.

We plan to go all out in the next 10 years to try and secure our financial freedom and possibly begin flipping full time.

@Reesey Ann - To this point, you might want to invest in some security measures to ensure this does not happen again.

While off market deals may be your ideal scenario in securing an investment - lets discuss ways in which i can also possibly make that happen for you. 

I’m eager to connect with seasoned investors to explore how I can assist in identifying and securing great investment opportunities for them.While I’m committed to providing value to my clients and partners, I’m also here to learn from those with more experience.

Interesting article about “Squatters’ Rights” in California; how they originated and their intended purpose vs. how they are currently being taken advantage of.California's Squatter's Enable Tenancy Rights After Just 30 Days, Raising Concerns Among Property Owners About Housing Security