This year it looks like we will build about what we need for this year but will still have a large deficit from the past years.

It's tough to make a buck in this business if you don't know what you're doing, and on your first flip that large spread can easily turn into a large deficit, and even leave you out of cash to finish.  

@Tj Hines Often times any deficits in experience and be overcome with cash.  

I also include the required language that if there is a deficit owed, they must pay upon receipt or I may file with credit bureaus.Also, as Mat T. says, you have to prove THEIR pets did the damage. 

And that is in part because of my knowledge-deficit and the fact that I can be a little less, um, diplomatic than my partner can.

That would also indicate that each month the tenant would be running a deficit, and less and less of the rent would be collected each month. 

This makes a net deficit of $9350 to the buyer who would hope to restore the house.  

Huge surplus of buyers, huge deficit of inventory.

Warren Buffett, in a recent interview with CNBC, offers one of the best quotes about the debt ceiling:"I could end the deficit in 5 minutes," he told CNBC.

I only collect first, last & security if I feel there is some sort of deficit, etc