Quote from @Maria Jeanette: I am considering using Equity Trust to set up a self-directed IRA to purchase properties.

The security deposit should never be used for anything during the lease.

You want to properly classify transactions such as Contributions/distributions if they are between the entity and the owner itself.If the entities are not direct owners, you have have a Due to / Due From to properly keep track of money owed between the entities.Best of luck!

The bank statements has deposit showing gross pay from the pay stub and not the net pay after taxes.

You must use a PMS and for the software to work you'll need to own the listings, which means you'll need to also collect all the funds, so owners' rents don't get deposited in the wrong account (Yes, Airbnb makes that mistake all the time!!).

My late wife and I held joint interests in a piece of real estate in our separate individual self directed 401k accounts.

Deposit will take all of other damages left. 

Quote from @Ryan Raven: You can usually be a property manager without a license as long as you are a direct employee of the owner.

@Alex ThomsenThe standard NC contract (2-T) has two different deposit options.

For as much as attorney's charge, they should be able to answer this question.The deposit can be used for cleaning, repairs, and unpaid charges.