I wanted to see what other people were using to set up their security deposit accounts? 

Many people miss out on things like this because they simply are not aware of these options.

Was wondering if other people went down this avenue

So, I've closed hundreds of loans for people. 

Capacity and Tolerance. 1) Capacity: how many people can you comfortably fit in the property, is there room to add more, or add more value to the tenants to increase rent.2) Tolerance: How many people are you comfortable living with, if there are vacancies are you able to handle that.House hacking is an amazing path to homeownership, and a nice low barrier to entry into self managing your properties.

@Grant ShipmanIn my experience with these units are very difficult to manage and people at the 30% level also create a new set of problems.

I am not a bankruptcy expert, but isn't that procedure used to release people from existing debt but not monthly expenses.  

I don't think that I'd personally trade that in for STR or multi family, the hassle of people is much more than dealing with the hassle of a warehouse business at least in my mind.but if the cash gets your overall portfolio to a place you'd prefer more then go for it, but personally the current deal sounds awesome.  

I think you have the basics of meeting partners and people to work with in your local market and seem to be well on the way with two deals going already so big congrats there!

Don’t be distracted by people with other plans and ways.