You can also request a security deposit for extra peace of mind. 

Structuring your lease in this way would benefit you by 1) locking in a longer term contract to avoid turnover costs and vacancy loss; 2) it moves your lease end date out of the winter season and into spring/summer of 2026 so it can be more easily marketed and re-rented to match the seasonal demand cycle; and 3) it avoids any upset/angry tenants who may have been incorrectly assuming their rent was going to stay in the $1,200 range after their first 6-month lease term.Would love to hear any updates you have on how this one shakes out for you though!

Just go through them, select the renovated/closely matching ones, and enter them into a model.Here's my fix & flip model, you can see the comps entered and some quick stats below them: Then I use that comp data to adjust the Sale Price in the model to what I estimate it will be (double check the resale $/sf is in-line with the comps), then adjust the purchase price until I hit my desired return level. 

The state doesn’t have rent control laws, but landlords are prohibited from collecting more than one month’s rent for security deposits.

From mid july I started noticing I have not received any deposits and I thought it might be a delay since it is a new property.

However, it does mean forfeiting the deposits which is tough to swallow. 

The seller’s most recent counter-offer was 90k for 30-40 day closing with a 10k non-refundable earnest money deposit.

Screening tenants well and then a security deposit or credit card hold process in place will limit liability.

•Set up your EIN and operating agreement.2.Set Up Your Business Bank Accounts:•Open 3–5 business bank accounts to give your money purpose:•Income Account: For revenue and deposits.

The case I was interested in was distribution, leading to income reported in K1 (e.g. depreciation doesn't match the income made that year).