The lease received from the prior landlord states that the tenant did not give a security deposit, her lease is up for renewal in 6 months.

I got a text from the tenant this morning asking if a friend of his could stay with them for the summer.

My plan was to follow up with a text message with website link (which I just set up) buying4cash.com - While working Full Time until Im established enough to make the switch to wholesaling Full-Time I wanted to try to develop a system that didnt require me to try to grab each incoming call, but rather be able to return the "cream of the crop" at the end of the days. 2.

Is there any other income you receive that we haven't previously discussed?

Over time, as the property value after rehab seasons, you pay down the note a bit, and receive additional cash flow, re-configuring the financing on the property might produce more bang for the buck. 

@Julio Fernandez You've received a great response from @Joe Villeneuve.

So below is the quick and dirty overview of my situation:- claim #1: submitted earlier this year for substantial water damage in LA rental property and just received payout. 

I received a connection request via LinkedIn from a representative at a company called Deposit Capital.

Your initial balance sheet should look something like thisAssetNote receivable - $10,000EquityDavid Hite - $10,000When you get the payments from the debtor - you will record a portion of the payment as payback of principal and a portion as interestCash - $100     Interest income - $10     Note Receivable - $90There can be an additional layer of complexity if you factor in the account "discount on note receivable" but the above is a good starting point.

Do you have any text messages that you could screen shot and print to keep in property folder?