Some say it's vital to keep any tenant deposits in a dedicated account (savings/CD ladder/FDIC-insured accessible thing) so commercial landlord accounting books reflect that this is a definitively separate non-fungible account from other spending accounts. 

(Yes) And as a homeowner, do I have the right to make modifications to my property?

They asked for proof of loan modification once everything was complete and said they could expedite everything as my file was complete.

That is the most important thing you can do with a vital team member. 

Once you make contact with the homeowner you obviously must get the Authorization to Release but a document I discovered that is vital is a Cease-and-Desist letter.

To be honest other then what has been stated i dont know much ...i know that it is vital to build a team who you can trust and that are honest.

I would like to know if your credit rating (score) is lowered or takes a hit if you ask your lender for a loan modification?.

@Tammy Vitale I just sent you a PM.

If you want to be a successful real estate investor you need to find a good real estate investment coach, it is vital to set your goals first.

The home modification may go through, is it typical for the bank to drop the property to the market value ($92k)?