@Michael Baum @Grant Woodward @John Underwood @Bruce Woodruff @Terry Ouimet   @Andrew Street @Patricia Andriolo-Bull @Andrew Steffens @Jake Baker Appreciate all the valuable input from your experience!  

@Bob Asad at our bank, we have an escrow account for security deposits, it is set up with sub-accounts for each tenant with their security deposit amount and their SSN.

Hey @Thanh Lu, we don't do much direct bookings but we do have a $500 security deposit.

Nothing you mention is "ordinary" and you should charge for all of it. dodged a bullet there thats a very good price take it from the security deposit and call yourself lucky. 

Should tenant fail to response, you would request a default judgment and under the proposed facts it would be granted in all likelihood.

I just had tenants move out of my investment property (duplex) without paying for the last month's rent, and the damage they inflicted onto the property exceeds their security deposit amount.

My last deal was an exact wrap at 3.5% granted I had to put $80k down to pull it off, but it’s a great way to keep the train on the tracks.  

A few resources that might help: • Books: The Millionaire Real Estate Investor by Gary Keller and How to Create Wealth Investing in Real Estate by Grant Cardone. • Documentaries: Check out The Queen of Versailles for insights into the challenges of hotel investments. • Podcasts: The BiggerPockets Commercial Real Estate Podcast has episodes on niche asset classes, including hotels. 

Quote from @Stuart Udis: @Ryan Blake These investments can be secured, or at least better secured if papered correctly.

Everyone raves about Michael Hyatt's full focus planner or Grant Cardone's 10 X Planner.