You need to beef up your cash position to account for reserves etc ....

Leave them in the accounts to build up cash or take regular disburements?

I was using Credit Bureau Associates who have recently moved/consolidated with TenantAlert.Have the option of running, criminal background and identity fraud checks.Have the option of  paying for it myself or applicant to pay.I get the credit score, account types open, closed, payment history, status of accounts, balances, etc. 

Hey @Brian Barcelona,First - congratulations on saving $20k at your age, most Americans don't have more than $1,000 in their savings account, so that in and of itself is quite an accomplishment.I would concur with @John Warren, find something that cash flows and get into it!

I plan to get our accountant's opinion as well once we get a little further into the deal.I would appreciate any and all input. 

I'm am currently only worth my savings account which is roughly $5,000. 

Most people you even consider blocking are "Account Closed" within a matter of days.

@Michael FaudoaIf you invest sweat equity in a partnership, the accounting for it can get pretty complex. 

I am also trying to account for the eventuality that he could trash the place or a major capex item comes up while he is living rent free.Do you see other alternatives to structuring the deal where I shift liability and also reduce holding cost?

I don't even remove my listing from online until I have a signed lease, and their funds have cleared my bank account.