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. 

Your goal is to build a passive real estate portfolio (we can discuss what passive means to you), so while I don't condone throwing $100k into a deal without even a basic understanding, alternatively doing so will teach you far more lessons than reading a book will.  

For example I have an account for each property and a sub-account just for the security deposits for those properties.

Secure the debt by real estate, now we're talking a great partnership deal.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

The crypto can be considered as EMD or down payment, the rest of the transaction will happen just as if you were running a traditional transaction.If a seller is completely against the idea of receiving crypto, you can always use a service like Bitpay to convert the cryptocurrency to cash.Last but not least, I always ask clients... why sell your crypto asset when you use it to secure a loan?

That doesn't seem right about having to chase your money - but would need a lot more info to provide a better opinion. also are you investing in one property and is your name secured or you giving an unsecured loan? 

Just remember that wholesaling is much tougher than all the gurus make it seem to be, but not impossible at all if you create the right systems and understand, when you are new, that you are solving problems, not throwing cash.

I noticed that the previous owner let them pay half the security deposit and the other half later, which is a red flag.