How do we protect ourselves from a tenant causing us significant damage in excess of the deposit amount? 

Secondly, how do I deposit the Security deposit into my account from Venmo in order to keep it separate from my other funds?

there are a few options for borrowing earnest money when you need funds to get a property under contract:Gator Lenders - This is a company that specifically lends money for earnest money deposits (EMD).

I would give him 24 hour notices for doing showings, halfway through the month he confirmed that he would be out by the last day of the month.I signed on his replacement, got the security deposit and was good to go.

Virginia doesn’t have many requirements around a security deposit: doesn’t require an interest bearing account or for me to return interest if it earns any.

I also use PayPal and Venmo.Some just deposit directly into my business account.I make it as easy as possible for my tenants to pay me.

Sub to is one arrow but certainly not one you can count on.. the idea of a bank or CU or portfolio lender lending you on your first fix and flip will be very tough to find unless you have subtantial banking relationships with them ( read deposits) .HML lenders exit because they are basically the only ones that will do this for new or newer fix and flippers.  

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I do not have a security deposit from them unfortunately.