Financing- build a relationship with a regional banker, don’t shop for interest rates, start small and build history and loyalty they are your team, Cross collateralize, deposit CD/MM or custodial account with bank for loan, give them monthly updates, nail your deal analysis, do stress tests on your deal analysis-cost/interest rate/deal length/ sale price etc. 12.

The security deposit should never be used for anything during the lease.

For your existing primary, you will need to have it leased with the security deposit and first month's rent collected.

Your construction background is a huge asset—it’s a perfect match for real estate investing.

@Michael Anderson If the property had been sold, it would make sense to formally assign the lease and deposit to the new owner and memorialize an agreement to collect and adjust rents after settlement, indemnify the other party for things arising during their respective ownership periods, etc. 

Another reason to send it by mail is in many cases you will be deducting damages from deposit.  

Leases should match the loan ownership—use your personal name until properties are transitioned into an LLC.

I don't get into pissing matches online. 

@Danny RandolphYeah, I’m currently in the construction field and we usually get a 20-40% deposit, then get draws after certain stages/inspections have been passed

I would increase their deposit by that amount to ensure you have enough to cover an empty tank and a month of lost rent.