Setting aside some reserves at closing and making monthly reserve deposits will offset the risk of having a few down months. 

Tenant texts me today saying bring security deposit to final walkthrough or he can't move out.

I know, it’s rude of me to do such a thing, but had no better idea what to do.Well, the thing is that the guy owes to his bank thousands of dollars as he kept depositing money to various online casinos.

Note, only if the turnkey supplies properties that match your target tenant pool does buying turnkey make sense.

If we don’t they most likely will make them leave before closing so the seller gets deposit due to them destroying the place.

I want to get in on str and I love this market, but at the same time, I don't love the idea of putting down such a large down deposit, even at 10%, and having a $3,000 monthly mortgage payment to worry about.

Frequently, C Class properties look great on paper, but the reality does not match up.

After touring the house, I consider he probably cannot move all his stuff out by tonight and so I gave him two days of extension (until 11/2) but will start deducting his security deposit at a prorated basis starting 11/3 if he still can't move out by 11/2.

Tenants like all electric in the south because they only have to meet one company not two to get the utilities turned on and only have to pay one utility deposit.

Please call me if you have any questions or comments.My lease provides that the Landlord may deduct the "cost of re-letting the property" from the Security Deposit.