Hi Ryan Biankowski if it were me I would keep my $10k in the bank for holding costs as well as you'll need funds for items you need to put deposits on like cabinets, counters etc.I would find a great deal, use an HML for my first position lender and a PML for the second.

We are passed all contingency periods and are ok with losing the earnest deposit and moving on.

I am looking for suggestions on how to host these on a platform using AI and other new technology to help people match with a lender or build a list of investors for multi family, self storage, assisted living, short term rentals, mobile home parks, new construction etc. 

Password Sheet - I create a password sheet for each entityApartments.com - For rent collectionZDeposit - To escrow security deposits.

@Daniel Grimsley sounds like you have a Class C tenant.They are probably planning on saving the rent they owe you to use to move and pay first month's rent + security deposit on a new home.Why didn't you start the eviction process when they didn't pay May rent?

You can look at a deposit insurance that the tenants pay to offset repairs and fights over their deposits. 

Many of us in Illinois hear quite a bit about how easily you can get sued as a landlord related to security deposit handling, thus many shifting to a non-refundable move in fee instead. 

I have actual work to do and don't need 30 days of this.He never paid me the expense deposit in my management agreement and I never pushed on it because I'm always holding enough of his rent at any given time for it not to matter.

I had a guest that waited 30 days for a credit to his AMEX for a refunded security deposit.

In TX we can collect up to a double security deposit which I do for some tenants.