I've never had an issue. we don't get security deposits or sign any leases.

We have a modest security deposit collected up front along with 1st month's rent and the cleaning fee.

Quote from @Clayton Silva: Quote from @Jeffrey Blackman: Quote from @Clayton Silva: 2nd position HELOCS on investment properties are typically capped at 70% LTV and have rates ranging from 9-11% just a heads up unless you use a local credit union where you have cash on deposit with them. 

The amount of this deposit is going to depend on the auction itself.

We embrace S8 applicants, but screen them just like any other applicant.Many have an entitlement mentality and try to leverage their S8 voucher by pretending to be helpless:1) A percentage won't apply because they expect a landlord to waive application fees for them.2) Many cry broke and expect a landlord NOT to charge them a security deposit.3) Many of those same S8 tenants trying to avoid paying a security deposit, won't make an effort to call the list of nonprofits we send them that will pay their security deposit if they apply.4) A lot of them try to avoid paying for utilities.

Dave Van Horn is a collegue of mine and I am glad that he was able to point you in a direction that helped you feel better about your retirement planning. 

If so, you can use the security deposits from both tenants to cover missed rent. 

Lessons learned about PA landlord tenant law. can only collect one month rent value as security deposit or else judge makes you give it back.

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.

Make an Earnest Money Deposit.5.