Hello All,I am currently in the process of renting out my unit in Derry, New Hampshire for the first time and noticed in The Book on Managing Rental Properties that it recommends taking a deposit to hold the unit after accepting a new tenant.

hi Dan, thanks for the reply. i made an estimate when i walked through but i have a contractor that will give a solid estimate this week, seeing that they accepted my offer yesterday. i put a contingency clause in my offer (subject to appraisal) which will take place this week as well, i believe that the property will appraise for less. the closing cost is just a recommended number i used off the calculator, i am using a hard money lender. i will upload the net sheet so you can see the terms. i really do appreciate the time you took to review and respond 

However, what TRULY fuels my fire is seeing my dad work the night shift for the past 15 years and see how it’s robbed him of his physical and social health!

Or after your offer was accepted?

Or should I just make offers, get them accepted, and then wait to have an inspection done during due diligence? 

You can't make up lost time, and if the property is sitting too long on the market, it will be overtaken by newer listings, and diminish the amount of showings yours get.Possibly accept the lower rent for a month or two, and have the rent increase to your original price (put that in the lease) to get the unit occupied and cash-flowing again. 

I inspected the property made a low offer and they accepted , and that's how I scored 2 properties in 1 month.This depleted my cash which I was going to use for the sheriff sale property as it will need at least $10,000 worth of work but I will renovate it slowly and rent out the other asap.

Their credit check revealed a low credit score which I will accept with double the security deposit.

I’m also building the social media up too.

Two of the payment methods that cozy accepts are indeed some of the riskiest forms of payment that an investor can receive.