More security. 

You should consult with a securities/private equity attorney for some information on the legal way to market this opportunity. 

The legislature may postpone the payment of taxes, but only in cases of emergency declared by the governor or a parish president pursuant to the Louisiana Homeland Security and Emergency Assistance and Disaster Act.

I hereby give you 30 days to vacate or qualify for a new lease with the appropriate business name, license, insurance, security deposit, and other requirements.

Security deposit amountYou can find plenty of examples by searching for "tenant estoppel certificate doc" or exchanging "doc" with "pdf" for more options.Here is an example and explanation: Sample EstoppelSome have a lot of legal jargon but this document does not need to be so detailed.

At the moment, damages were relatively light to the property, and I do have a security deposit that I can use For those and to also apply what’s left over for missing rents.

Should I deduct the cost from their security deposit or is it considered normal wear and tear?

So secure a great tenant, understand the characteristics of the community and build an outstanding working relationship!  

Say I went with that one though and secured it all cash.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.