Do you have anything in your inventory that matches this description?  

They have to claim it on their taxes as interest income, but still, in a low interest environment, many boomers wanting to retire or downsize can find owner financing a solid investment since they're making several times what they would on a similar cash deposit in a bank somewhere. 

I am asking him to pay first & last month's rent and a security deposit up-front.

Or just take it out of the deposit of the tenant whose furniture caused the damage?

The former owner did not request deposit, but if the current renter wants to sign with me, I can request deposit up front with lease correct?

I allow pets (dogs) in my rentals (12 rentals - 1 or 2 actually have dogs) with a pet fee, not deposit and additional monthly rent for the pet.

When we got our proof of funds letter from the hard money lender we literally turned it over and submitted it with all the contracts to our realtor, who then submitted it to the seller with our earnest deposit.

The proforma includes $600 for ALL maintenance on all four units.Anyways, not saying it's wrong - not my market, not my niche ... just saying it doesn't match my experience ... and I would need big convincing that they were correct.

Usually goes along with a refundable pet deposit of $250-$500 on top of normal deposit. 

If their expectations don't match with the prices then maybe it's not gonna be a good fit for us to work together.