It saved me when things got real (hello, crazy boyfriend with trust issues).Security Deposit: Non-NegotiableOne full month of rent as a security deposit (at the very least!)

I only have one STR I mostly do LTR but I know location and amenities are king. 

They can also help you analyze the highest and best use for the property and location.

The STR market was great a few years ago but now too sure now unless you have a great location.

Once you go above $125k/unit you start to get into the high end areas that won't have very good rent/price ratios and are under the 1% rule mark for turnkey stuff.Neighborhood wise in the city the "East End" is where the most expensive real estate is since that's where the universities and a lot of the hospitals are located.

What strategies do you recommend for securing hard money loans for spec builds?

.- I will keep their security deposit for funds owed.- I will do my best to garnish future wages until their debt to me is paid in full.This has worked 100% time so far.  

Focus on key areas first (like floors, walls, kitchen, or bathroom), which may help you handle the costs more gradually, even if it means moving in furniture or updating fixtures down the line.Also, since the tenant left it in rough shape, be sure to document all the damage (photos, receipts) in case you decide to pursue reimbursement through their security deposit or in court.

Separate accounts per property incurs a lot of overhead, such as minimum balances or fees for missing the minimum.I use separate accounts for each tenant's security deposits.

@Dillon Onsager Where's the duplex located?