Now you need to get the construction rolling, only the 130k rehab is in escrow and your contractor, if he is worth a grain of salt, will want at least a 20k - 25k deposit on a job of that size, maybe more. 

Often, they don't need to be moved in by the time of the appraisal, but if you have a signed lease, first month's rent receipt, and a receipt of the security deposit then the lender will often treat the property as occupied which can help increase your max loan amount in some cases.

You notify them you will be purchasing the policy for them and doing so with their security deposit money, if state law allows it. 

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

You’ll get a statement around the 7th-10th of the month and a deposit the next day or two.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

For instance, the term could be 3 years and add a clause that says they have to return the property to the condition it was in when they moved in, not just keep their deposit. 

Quote from @Jay Hinrichs: Loudoun County Virginia80 acre parcel Entitlement for 30 1 to 1.5 acre estate lots and 40 acre remainder parcel with large million dollar home.Purchase price  3.5 milEM deposits non refundable  50k up front 50k during Entitlement cost ( survey, geo , water , artifacts, Soils Engineer , city fees)  350k Capital partner  ME  provide all the cash up front.  450k to my client who found and prosecuted the platMultiple offers from all the biggest builders in that market  IE Toll  Lennar DR and a few regionals.Closed today with 1.1 million cash profit  PLUS the 40 acres and home value about at least 2 mil free and clear.My fee is double my money so we made 450k today.My client made about 650k in cash and the property  free and clear.. 

The tenant was seeking $14k for security deposit and furniture that was left in the property.