Dear BP community, I am currently evaluating a property for purchase, and the listed bedroom/bathroom (s) count does not match with the county records.

If it's not a holiday, I would say, "No, the deposit remains in place until your lease ends."

Most lawsuits against landlords involve wrongful eviction, security deposit disputes, and Fair Housing Violations.

While your deposit remains safe as equity. 

It does sound to me that a lot of that work should have come out of the tenants security deposit 

Unless you have a massive deposit relationship with them like 1m++++ then they may do 20%That said they will finance the rehab if you’re a strong borrower and it pencils. 

If you’re not well-versed in lease agreements, security deposit rules, or eviction procedures, you could run into trouble.❌ Emotional Stress – Handling tenant issues (especially late payments or evictions) can be stressful, especially if you live in the same building.Hiring a Property Manager in ChicagoPros of Hiring a Property Manager✅ Less Stress & Time Commitment – A property manager handles everything from finding tenants to collecting rent and coordinating repairs.

You’re not using a PM, AND you’re assuming you can charge a service animal a deposit and pet rent?

We completed our due diligence within 10days and once the report came back, we immediately requested our deposit back. 

In addition to taking 6-9 months to close, they are also subject to (i) annual audits, (ii) annual REAC property inspections, (iii) recurring annual MIP payments on top of your interest rate, (iv) large initial deposits to the replacement reserve, (v) commercial space limitations to 15-20% EGI / 25% NRA, and (vi) less forgiving underwriting with 7.00% minimum vacancy rates when determining our underwritten NOI.