I sold myself to him; said I’d give him his asking price, give him $5000 down non-refundable (220k balance), 500 a month for 12 months, and pay him off after the year.

Only way to touch any of their security deposit would be to have hard proof that they were negligent, which is difficult to prove.   

Fortunately, I'm not the final word here, Raj.The Acord forms and other Evidence of Insurance documents are notoriously cryptic and difficult to read.

Ive heard of difficult PM stories but this is crazy.

Pasadena has had a low inventory lately, depending on the price range of course, so finding a buyer shouldn’t be too difficult.

Denmark is a difficult place to do creative finance.

I'm trying to find the balance between risk and reward.

@Brad SchaeppiJust a follow up: the contract terms were difficult.

@Dennis Tierney is correct you're going to find it difficult to get financing for this from a traditional bank but there are other lenders you can find. 

@Brian PulaskiI have the correct tradesmans but, it is difficult to understand the scope of work without gaining access to the inside of the property until the current residents are out.As long as major work is not needed then I expect to be done within the 60 days.