Which I also would tell you that if you have trouble managing finances and poor credit I strongly advise against real estate as its capital intensive and if you struggle now managing money having more money and real estate only exacerbates that issue.

If a person has to ask, at all, I STRONGLY advise to use a PM service for tenant placement. 

Now, over a year and a half later, he sent a certified letter last week demanding the security deposit or legal action within 30 days.Please advise. 

I was advised today by a retired real estate professional, who is licensed, that if you offer an application to someone for a loan, you must be licenesed by the DRE.

They’ll advise you on what moves you should make so you can make the best possible decisions throughout the buying process.Bottom LineThe key to a successful homebuying savings strategy?

They have a liability for a full value of my property plus I make them have personal property for $30k. is it advisable to have the insurance underwritten with tenant and my name on it?

For other concerns, I would and still do advise them to reach out to Investor Relations etc.  

good luck Thank you for the advise. 

If not, I would advise researching this strategy.

You should consider consulting an attorney.I've consulted an attorney, they usually like to handle the case in court and not advise on intricacies of how to negotiate a cash for keys arrangement.