@Michael Anderson If the property had been sold, it would make sense to formally assign the lease and deposit to the new owner and memorialize an agreement to collect and adjust rents after settlement, indemnify the other party for things arising during their respective ownership periods, etc. 

That particular area is known for clay deposits in the ground that can really mess up foundations.

I "signed up" for the class just to see the entire process, but I delayed my deposit and any other funds for a few days to figure out all of their angles.I picked up on a few things myself:1) The Fortune 500 cover and article that our mentor "Jason" mentioned on Day 1 was to establish his credibility.

Cash to invest (enough for deposits, skin in the game lenders want you to have, closing costs, carrying costs, and to kick off rehab work).2.) 

I would increase their deposit by that amount to ensure you have enough to cover an empty tank and a month of lost rent.

This method is simple, free, and fast.You could also provide deposit slips, so tenants can deliver their payment directly to the bank.

For many owners, this is a win.Other owners may value the consistent monthly deposits rather than worrying about the usually seasonal STR incomes. 

Given your questioning, it sounds like you might have put a deposit way too quickly on that property.

Often there is a process to withhold rent and deposit it with the court until the issue is resolved.

They manage specific funds on your behalf, and based on the time horizon, 3-5 years, they will deposit a payment back into your account on the 1st of each month, thus creating a monthly income payment.