Here are a few threads that could help:Questions for Hard Money LendersHow to Vet a Private LenderDue Diligence on Private Lenders4) Do know and be able to defend your numbers on any property.

Probably not but I’ll know he knows that he can’t get over on EVERYONE just because if they rent they must be incapable of defending themselves.The lease states nothing about the pet deposit being non refundable.There is nothing of cleaning charges or charges of any kind outside of rent of course.

Check with your local court to see what the process of serving defendants.

Most don't realize that to a plaintif's attorney the defendant's LLC (you) being self created and you being the registered agent means amateur and the LLC will be blown up with no effort at all. 

Lower fees per transaction than Champions yet I feel as agents we are getting more from our Broker than the competition.   

You will get sued no matter what, it will cost you money whether you win or lose and your insurance company will step in to defend you if it happens on the property most of the time.Eazy-peezy- close loan in your name, tx deed to your LLC asap after.

@David Krulac, unless it is truly passive, if it is passive then you do not have to register as a Foreign llc. this is from Pennsylvania Department of State:Registration of Foreign Associations –General Rule and ExclusionsGeneral Rule – A foreign filing association or foreign limited liability partnership may not do business in this Commonwealth until it registerswith the Department of State.Exclusions – Activities of a foreign filing association or foreign limited liability partnership that do not constitute doing business in thisCommonwealth include the following:(1) Maintaining, defending, mediating, arbitrating or settling an action or proceeding.(2) Carrying on any activity concerning its internal affairs, including holding meetings of its interest holders or governors.(3) Maintaining accounts in financial institutions.(4) Maintaining offices or agencies for the transfer, exchange and registration of securities of the association or maintaining trustees ordepositories with respect to the securities.(5) Selling through independent contractors.(6) Soliciting or obtaining orders by any means if the orders require acceptance outside of this Commonwealth before the orders becomecontracts.(7) Creating or acquiring indebtedness, mortgages or security interests in property.(8) Securing or collecting debts or enforcing mortgages or security interests in property securing the debts and holding, protecting ormaintaining property so acquired.(9) Conducting an isolated transaction that is not in the course of similar transactions.(10) Owning, without more, property.(11) Doing business in interstate or foreign commerce.Being an interest holder or governor of a foreign association that does business in this Commonwealth does not by itself constitute doingbusiness in this Commonwealth.In general terms, any conduct more regular, systematic, or extensive than that described above constitutes doing business and requires theforeign association to register to do business.

In my opinion if they signed a lease and gave deposit to hold the property and it is clear in writing what the next steps are and they do not perform per the agreement then they have violated the contract and forfeit the security deposit because that is what was holding the property and you could have leased it to someone else so technically you could be out potential money.Now the flipside to this is you may be right all day long, but if they sue you over this you have to get legal counsel to defend yourself and deal with the headache and mental strain of battling this, probably spending way more then if you just gave them back the money and moved on.

This is usually a 3 week process as the court gives the tenant an opportunity to respond to your complaint, before setting a court date.If it is for nonpayment, the judge should make a swift decision as there really is no answer to defend nonpayment.Best of luck to you.

Memphis looks like the current front-runner for reasons I’m comfortable defending...feel free to try and talk me out of it if you must.