We got a $50,000 deficiency against the borrower and secured it to their primary residence in 2nd position which had around $150k equity.

You don't know the law, you don't know how to handle difficult tenants, and you aren't local to work on it.This is what Ohio law says: “The tenant shall not unreasonably withhold consent for the landlord to enter into the dwelling unit in order to inspect the premises, make ordinary, necessary, or agreed repairs, decorations, alterations, or improvements, deliver parcels that are too large for the tenant’s mail facilities, supply necessary or agreed services, or exhibit the dwelling unit to prospective or actual purchasers, mortgagees, tenants, workmen, or contractors.”I would give the tenant a short, direct warning that they have 72 hours to coordinate with the vendor and set a schedule for repairs.

Tenants agree to return the appliances in the condition supplied less any normal and reasonableThe tenant emailed me about two days after moving in and said the refrigerator was not supplied in complete working condition and is demanding I replace it ASAP.

We're considering using an FHA loan, but due to his credit score, we haven't started the preapproval process yet.What steps would you recommend we take to secure funding for our first investment?

Rates, on average, are currently in the 6’s, so refinancing your DSCR loan might be a great option for securing a lower rate.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

I copied this from the Chicago RTLO which is attached to the CAR lease:-Before a landlord can deduct expenses for damages from the security deposit, the landlord must provide the tenant with an itemized statement of the damages within 30 days of the date the tenant vacates the dwelling unit.

We rented to them as they had cash from selling their home and paid us first, last, and security plus 3 months of rent extra.  

Then you have the full amount available to you, ONLY IF YOU NEED IT.3) Secure funding for the property using someone else's money. 

My final piece of advise to you is based on 45+ years investing in real estate, real estate debt, and real estate securities, as well as having syndicated over 400 deals.