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.

Our partner, Jamari Spruell, identified the property as an off-market opportunity, allowing us to avoid competition and secure a favorable price.

Look at the section called:"What do I do if my landlord does not give me back my security deposit?"

Both record owner and equitable owner need to consent to the new security interest. 

With that kind of fico score, you would be able to secure a rate that is competitive if not beating conventional investment property mortgage rates.

It’s important to confirm that your lender is aware of your plans and that it won't affect your ability to secure favorable terms.If you are planning on using hard money to finance the deal, please keep in mind that most hard money lenders out there have a hard stance against owner-occupancy.

If I let them go can I keep the security deposit until I find a tenant?

Secure pre-approval for the second mortgage or HELOC before committing to the builder to ensure a smooth transaction.

It sounds like a security deposit trap.

Do you enjoy the security of your cashflowing duplex that doesn't need much maintenance?