Theres a lot of content on here about house hacking.

You can simply request a separate check for the $100 increase to bring the total deposit in line with the new rent amount.

In this case, Azibo was super strong on bugging me when they first started.

If you're ever interested in seeing what's going happening on the western side of the state feel free to reach out anytime. 

The rates beat hard money and it's all online.  

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

If you want to put less than 20% down skip the seller financing and move in to the property.

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If it would concentrate on rent collection only and do it well, it might be okay.

I live in New York and majority of the inventory on Long Island is too expensive for even renting.