You can deduct prepaid interest, insurance.

Then...Debit Business Checking Account: $123,600Credit Due to Rob: $123,60060-days of Interest Expense: $1,066.68 (Paid to Rob W). 

My husband  agreed to renew a tenant whom I wanted out,  for six more months, prepaid rent,  while I was out of town.  

(with any personal info blacked out)There is prepaid interest (from closing date to the end of the month), interest on the old loan until it's paid off, possibly a new escrow account for taxes and insurance, credit report fee, appraisal fee, title insurance (yes even though title is not being transferred there is always a new lender policy issued). 

These are the numbers from the mortgage company:Closing Costs: $8,679.11 (half of this is lender points for a lower interest rate)Prepaid/Escrows: $2,211.79Payoff: $130,189 (this is the loan I took out to purchase the home initially before renovating, I put down $23,025 which was 15%)Total funds to Close: $141,079.90Loan amount (75% LTV based on $240,000 appraisal): $180,000Total Due at closing: $38,920.10Help!

Essentially the seller agrees that $X will come out of their check at closing and go to cover your closing costs at closing (debit Seller, credit buyer).

Most of them seem to want to use a debit card rather than their routing and account number for automatic withdrawal. 

@Mike McCarthy, I see that cozy requires a 2.75% fee when tenants pay with either a credit or debit card.

I am in process of buying an $87k property with 15% down; closing cost plus prepaid taxes and insurance will mean my OOP cash is about $18k.

automatic monthly/bi-weekly debits?