I've collected thousands in security deposit from my guests who've caused damage.

Consider using an FHA loan to secure a 1–4 unit property with just 3.5% down and take advantage of tax benefits by living there for at least two years.

In mid February, many tenants get caught up when they start getting their income tax refunds (depending how fast they file).Income tax refunds also give tenants the needed funds for first month of rent + security deposit, so they can move.Check out this graph, which was created from tens of thousands of data points:Regarding your property, suggest the following:1) Where specifically is it being advertised?

With over 20 years of experience as a mortgage expert and real estate investment veteran, we leverage our mortgage company to secure below-market financing for our clients, ensuring maximum value and profitability.

We have secured a home equity loan against our home (which we own out right with no mortgage payment).

It's simply factual:  you violated the lease by smoking, stop it, remove the resulting odor and that a repeat action could result in eviction and loss of security deposit.  

I completely agree with @Ashish Acharya's points about the cost-effectiveness of a HELOC and the potential credit implications if it’s secured by your primary residence.

I know I need to hold the security deposit in an escrow account.  

Purchase price: $187,000 Cash invested: $15,000 Sale price: $259,000 I got tired of moving place to place and worrying about finding roommate, security deposits and not having enough money to deal with maintaining someone elses home.

I guarantee you are more likely to secure favorable terms if the seller likes you and can imagine you as a great operator for the business.