You will receive the security deposit in Checking but then transfer it to Savings.Savings: Hold the deposit here so it's separate from operating funds.

Lock down the spot get it secured...That is exactly what we're looking for.

They didn’t completely destroy the house, I did keep most of their security deposit and used it for the repairs, along with some of our own cash.

I am currently waiting on a rather large legal settlement to hopefully hurry up and get him his $16,000 or if we can find someone to go ahead and pay him off early (no prepayment penalty), which would be hopefully paid off sooner than later as well in exchange for a secured lien on the property plus repayment of the $16,000 plus interest short term.

Wealth Building: Paying off the first STR focuses on cash flow and financial security, while buying another property focuses on scaling and wealth building.

With inventory expanding, it feels like there could be opportunities to secure deals, especially if the right cash flow potential is there. 

Syndicators do this because most passive investors are not sophisticated enough to realize the "security" of the preferred return means they usually are giving up the potential for massive returns if the deal does well.This next comment would apply for all syndication.  

Just swinging for the fences herePortfolio Loan or Blanket Loan: Use the combined equity of both properties to secure a new loan.

If you see work crews reaching out, ask the person in charge of securing housing where they go looking.

On 12/19/2024, we sold it for $99,000, securing a great return.