You must keep the tenants security deposit at a bank that physically operates a branch office in the State of NC.  

However, i'll likely be looking at additional ways down the road to be even more secure for a backup what if scenario.  

I currently own a few properties here in Bryan-College Station, I have a full time sales job so try to stay as passive as possible. This is why I haven't done STR or anything. I'm currently only cash flowing about $10...

I was hoping for some idea to secure the Promissory Note but it seems that's not available.Thanks for your response. 

Maybe you could extend the closings with some additional earnest money (even if you release it) and buy the time so you can simply do a regular 1031 exchange.  

I recently had a long-term (5.5 years) tenant move out. She was a fantastic tenant—always paid on time, easy to work with, and took good care of the property overall. She did move in two cats during her tenancy (with ...

.- If they are more reasonable you may want to accept if for now, but let them know you'd be doing regular increases to get the rent more inline with market rent.Too many newbies here will tell you to get market rent or get rid of the tenant.

I also advise participating in regular meetings with them.

In Chicago it regularly dips below 32.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.