Our final report on Deposits and Refunds includes the following categories:Credit: Security Deposit, Pre-paid RentDebit: Unpaid Rent, Unpaid Utilities, Unpaid Fees, Missing Items, Damages, Extra Cleaning, Extra Debris Removal.We don't look for ways to retain the security deposit, we only look for ways to keep us "whole" after a tenant has moved out.

I obviously believe in Legal Shield (aka Pre-paid Legal), so I signed up to be an associate for them too.

The buyers prepaid $2k to the Title company who then paid me and the $2k went toward the purchase price.

I've never had any luck collecting from deadbeats that bail out, and have learned how important deposits and prepaid rent payments are (last month's rent) as collateral.

My only expenses for 2012 are all my closing costs, and a small amount of materials I purchased to fix a couple things on the property, plus I had to pay back the previous owner 6 months in property tax because they pre paid it for this year.

From the landlords perspective, in some states, you can accept prepaid rents but can not use the fund until the actual calendar month in which the rent would apply.

On an investment property; A SFR if you have #1-6 mortgages you can pull out up to 75% of the equity and a 2-4 units is up to 70% equity.The new loan amount is not more than the actual documented amount of the borrower’s initial investment in purchasing the property, plus the financing of closing costs, prepaid fees, and points (subject to the maximum LTV). 1.

After you've got the answer to #4 above, non-lender closing costs, prepaids, etc, will be identical regardless of lender.

Kyler - I bought & moved into a fourplex previously.. it's a great way to get owner financing (5% down instead of 20%) then would use pre-paid PMI to keep the monthly rate low.

The statue says it "terminates the lease" and doesn't give back security deposit either. .... my tenants prepaid 6 months of rent which only applies to the last 6 month this of the lease terms.