pays $112 deposit)From what I understand, as the new owner of the property, I'm pretty much on the hook for non-payment of the water bill no matter which form I submit.

Would someone be able to fill me on in what is required with regard to bank accounts in the state of NC for holding a tenant's security deposit? 

- I'm turned off by the standard sales page that Sean uses (endless scrolling with big text and flashy success stories and huge Join Now buttons).

Handling Maintenance requests and emergencies, Handling tenant disputes, Ensuring the tenants are properly insured (if you require them to), Marketing the property, Screening applicants, Handling the security deposit return, and a whole lot more. 

Ideally, a location near a hospital or other attractive amenities is ideal.The upfront investment you would need is the Security deposit and 1st months rent, and cash to furnish the unit.

It’s often sold as an alternative to larger security deposits or co-signers for people with bad credit bad rental history.

It sounds like at least some of the charges to your security deposit might be valid. 

Florida for example, many landlords I speak to don't understand Security Deposits. 

If you do get contacted by someone who is serious (with experience) then just request a large deposit to protect yourself. 

For extra formality, put it on a nice document with your letterhead.Re: Non-Binding Letter of Intent to Purchase Real Property Located at [Property Address]Dear [Recipient's Name]:This non-binding Letter of Intent ("LOI") is submitted by [Your Name] (the "Buyer") to [Recipient's Name] (the "Seller") with the intention of setting forth certain preliminary terms and conditions for the proposed acquisition of the real property located at [Property Address], inclusive of all improvements, appurtenances, and fixtures thereon (the "Property").Purchase PriceThe Buyer hereby proposes to purchase the Property for a total consideration of $[Amount] (the "Purchase Price"), which shall be subject to adjustment based on the results of the due diligence investigations and final negotiations.Earnest Money DepositContingent upon the execution of a definitive Purchase and Sale Agreement (the "PSA"), the Buyer shall deposit earnest money in the amount of $[Amount] (the "Earnest Money") into an escrow account designated by the mutual agreement of the parties.