I would tread very very carefully here

@Justin Smith Bernie Madoff and every other scammer also did deals with & thru family & friends.Just be careful and good luck!

Key points include:Security Deposits: In Indiana, there’s no legal cap on security deposits, but you must return the deposit (minus any valid deductions) within 45 days of the tenant vacating the property.Evictions: Follow the formal process carefully.

You’ll want to handle this carefully to stay within the law.

Regarding leverage - use it carefully!

So be careful

While I was running my inspection business, trying to build a real estate business, and taking care of 4 rentals with family, I was also going to night school to get a degree in MIS.

But after working with him, I realized he was very systematic and mostly cared about closing deals without much care for the client's long term needs.Here’s an example: I had a $10K escrow with the seller—$5K due upfront and $5K after the inspection.

Nobody will take better care of your property than yourself and nobody will be as invested into as yourself. 

Before finalizing a decision to sell, I thought I’d get some thoughts from the BP forumThe only obvious factor I know to try to head off a problem is to carefully screen applicants.