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.

Due to their credit score I wouldn't rent to them, but if you decide to go ahead and rent to them I would ask them for last month's rent up front in addition to first month's rent and the security deposit. 

However after you get your paycheck deposited to your personal checking account you can contribute to an IRA.

Weekly Rates Summer VacationJune 5 - June 12: $3500June 12-Aug 14: $3900Aug 14-Sep 11: $3500Taxes, cleaning fee and refundable security deposit additionalWINTER RENTAL MID-SEPTEMBER THROUGH MAY $3,750.00/mo.

All monies paid up front -1st, last, security deposit and $400/mo for utilities.What are the pitfalls? 

@Ely Lenik  Does she have an actual court order for child support that she can demonstrate through bank deposits that the father is making his required payments on?  

sa=...Question 2, you could try and sue but id take it out of the security deposit and move on.

How do you collect a security deposit for tenants that currently live in one unit of a multi-family I'm scheduled to close on in two weeks?

For my particular situation I have the funds to provide the deposit in Cash and had a pre-approval letter from a private lender for this property (which is dependent on appraisal, title, and final underwriting decision), but am unsure if they will accept this as documentation or if I will be out my earnest deposit if I go for this opportunity.

However, if you are automated on locking and notifications then having the deposits distributed throughout the month would make you less anxious for that beginning of the month!