I kept trying to find that home run deal but learned that it is way better hitting doubles and triples time and time again.

If you do not send them the accounting, the court can order you to pay triple the SD deposit back to them even if they owed you the whole amount.

This was in response to the OP that  I would take a VG reit any day of the week to invest my IRA money backed up with multi-tenant triple A rated properties rather than invest in a $2000 non-performing second with a face value of $10k on a busted up 3 bdrm 1 bath house built in 1940 in some small rural town I have never heard of in Alabama valued at maybe $30k all fixed up.

Do keep in mind that the taxes are going to essentially triple if you aren't claiming that property as a primary residence.

I believe it was new construction 2x6 walls and triple glazed.

If the financing is crucial double, triple, quadruple check your numbers.  

But ARV is at least double or triple that :).

Electric and gas is under the tenants namewater and sewage under LLC, and we will bill back to tenants.My other commercial is Triple Net, so she paid for everything.

Many locations provide for double or triple damages if you don't property return or account for the security deposit.Do you make any of your tenants pay utilities?

An amicable settlement (cash for keys) is the best, but again, there is no guarantee they will accept unless you up the amount to the point that it doesn't make any sense to do the deal.Bottom line is that you REALLY have to buy these deals at a deep enough discount to factor in such variables which is getting harder and harder to do in our market where the competition has tripled and the spreads have narrowed.