Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

First of all it's very rare a seller gets a buyer's EMD deposit for buyer's financing falling thru.

You'll be tagging transactions throughout the year with categories that fit the Schedule E so when tax time comes (if you stay on top of it) every deposit and expenditure will already be categorized and it's quick to create the Schedule E and/or run P&L reports any time you need to.

We gave him 56k in deposits and he will not even pick up his phone or engage in a conversation.

* What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuits* How familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?

WE get our spec loans from local community banks that specialize in lending to business's in the community.. they are not retail banks they are not looking to amass huge small time checking deposits..

We embrace S8 applicants, but screen them just like any other applicant.Many have an entitlement mentality and try to leverage their S8 voucher by pretending to be helpless:1) A percentage won't apply because they expect a landlord to waive application fees for them.2) Many cry broke and expect a landlord NOT to charge them a security deposit.3) Many of those same S8 tenants trying to avoid paying a security deposit, won't make an effort to call the list of nonprofits we send them that will pay their security deposit if they apply.4) A lot of them try to avoid paying for utilities.

I have done small things like switch from glass wine cups to acryliic ones that look like glass and take a damage deposit of $250 that helps mitigate small things breaking that are over $50.

The perceived benefit to the investor is they either get the inflated price, or if the deal goes "bad" and the tenant defaults they get to keep all the deposit money and rent and all that.

If they are changing jobs, they need the new job first and you need to paychecks or offer letter with salary or maybe even the first two paychecks at the new job, depending on their level and income.Ask them about deposit and rent.