He has an interesting strategy for finding long term tenants, which is to charge an unusually large security deposit, but have the monthly rent lower than the average for the area.

Unless your attorney tells you that you are responsible for this due to another Santa Monica regulation, and that would be highly unusual, this is a bill for your tenant.

Also if you have the choice to use a conventional mortgage I would still continue using them unless there is an unusual situation with the property and you are unable to obtain one.

So, we've come up with some terms that are a little unusual, but work for both of us.

Just know it’s highly unusual.  

As far as sticky issues.... all I can think of for now are  mold, mildew, and unusual odors that might be present.

An associate of mine has an unusual situation and had difficulty getting a decent HELOC until he talked to one local credit union who gave him a large line.

A 10-year lease for a commercial unit (i.e. retail or office) is not unusual.

My thoughts:- Unusual to reduce rent without the owner's permission and odd that they would drop you as a client when I assume they charge a % each month to manage and is in their best interest to keep you as a client unless you start making demands that are unreasonable or take up a large part of their time- I don't think a move-in special is necessarily a bad idea, depends on the location.

@Aaron Farley, this is unusual, but nothing too crazy.