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.

Sellers rarely mind the low deposit and extended closing period due to the nature of the property, or at least they can be made aware of the fact that their lot has issues that will take MY time and MY money to solve and then they come around.My terms on the flip are: Minimum 10K spread between purchase and flip value.  1-2K deposit upfront to hold the property for 7 days then the deposit becomes non-refundable after the 7th day and the buyer has the same amount of time that I originally negotiated with seller typically 8-12 months(its a purchase contract but because of contingencies its essentially an option).  

If they pass the screening, also find out who is paying the deposit as that is the person you will be returning it to once they leave.

All things being equal, I would accept these applicants, but I would require them to pay a deposit equal to two months of rent.

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.

Property manager (PM) 's lawyer continued the case to get the unpaid rent from the tenant.PMA between landlord and property manager(PM) has also expired so landlord got the property back , but when landlord requested to settle the account and the deposit( there is one month deposit from landlord also), PM refuses since the lawsuit is going on with the tenant, Additionally PM is still charging the monthly property management fees from landlord even though landlord is managing the property.Landlord is done dealing with PM and requested the PM to withdraw the lawsuit against the tenant ( landlord is aware that he will loose 2 months rent), PM came back saying they cannot withdraw the lawsuit since that will violate fair housing law.QUESTION:Does withdrawing unpaid rent case against the tenant violate fair housing law ?

It's simply factual:  you violated the lease by smoking, stop it, remove the resulting odor and that a repeat action could result in eviction and loss of security deposit.  

She can also do postdated cheques, so you can deposit them on the 1st of each month. 

Its all legal and now you only have to maintain a place for 5 groups. 1) you can get a heavy cash deposit down for the ownership. 2) they pay quarterly for expenses that funds the overhead. 3) everone has a share of profit when you or they decide to sell for a higher price.

Earnest Money DepositAnd if you want to cover all your bases, you can also consider saving for an earnest money deposit (EMD).