It does sound to me that a lot of that work should have come out of the tenants security deposit 

As I understand, landlords there cannot charge application fees, security deposits and evictions are VERY challenging.Have communicated with several PMCs and investors in Ohio market and not aware of any real differences from Michigan. 

They are even working on getting me the evicted tenant's security deposit, the missing JANUARY rent since the place is still empty, and covering the cost of my own manager re-listing the property.

This deal, i used my first successful buy and hold property and pulled a HELOC to secure financing and reserves.

Leveraging our market connections, we identified the property’s potential and negotiated favorable terms directly with the seller, securing it at a highly competitive price.

This includes preparing the property for renters, pricing it right, marketing, application screening, collecting rent, dealing with unpaid rent and other lease violations, security deposit disposition, inspections, and so much more.

Now a-lot of times you buy a home from someone with seller financing and they hold the note for 6 months to season it and then sell the note to another investor or a firm and then it will most likely show up on your credit because these are more sophisticated investors.In regards to the benefits of owner financing you won't have to pay closing costs to a bank.

All of this lends a lot for sense of safety and security for sellers.

Renter's Insurance is a cheap date for the tenant; it protects their security deposit and assets. 

What is the security on the above?