Hey BPer'sI am trying to understand the legal aspect of security deposits as it pertains to a trust account in North Carolina. 

For US government purposes, our legal residence is a family member's home where we stay when we are in the US.Thanks for the DSCR info.

but working with someone who is local to your market, who can show you their legal documents that they have used, introduce you to a proper title/attorney office for drafting documents...I mean, nothing is foolproof...but that route will have a significantly higher success rate. 

You may need to seek legal counsel on this.2) Get all the info about your rental property as possible: leases, rent ledgers, tenant contact info, etc.3) Start looking for a new PMC4) Execute your termination notice5) Once transfer is complete, circle back to decide if worth suing them.

They keep you legal in regards to screening, notices, and so on.

I'm saying that if you had the option of paying taxes on $50K or $21K, legally, all things being equal, which one would you pick? 

Do not rely on it for legal advice.

This can lead to "renegotiation" demands at the closing:(Other Potential Issues to Consider:Being in the chain of title is also exposure to potential legal issues.Selling an assignment may be a violation of a state's real estate statutes.Wholesaling w/o a real estate broker's license may violate your state's statutes.I'm sure there are more...

Ask legal counsel though.

Quote from @Bruce Woodruff: Quote from @Stetson Oates: I’m not an attorney so this is not legal advice!!!!