Be aware that commercial loans operate differently than regular Fannie Mae/Freddie Mac loans as the rates are higher and terms less favorable such as a 20 year amortization and 5 year balloon for example instead of a straight 30 year amortization loan.

She agreed but also assured me any damage would come from the security deposit.

I will definitely be checking deferred maintenance during the due diligence period and most likely there will be some needed.It's definitely not 100% turn key, there are most likely some renovations I can come in and value add, especially in the exterior and extra security to make the residents feel safe as it is a C class area. 

@Ted DavisYour wife may be entitled to the home office deduction if she uses the area regularly and exclusively for her business.Items that go into the deduction are rent(depreciation, mortgage interest, home insurance, real estate taxes if you own), utilities, etc to calculate the home office deduction.It can be a big deduction so many sure your accountant factors that in.

I am also having issues securing my VA Loan as I am in the middle of transitioning out of the Army.

We are close to Sea World and Lackland so I feel we will stay rented regularly.

Hi,Newbie to biggerpockets here.We closed on a house in Chicago and our property manager is adamant that we return the security deposit that was transferred over from the seller.

In other words, you are probably going to end up paying the bill unless you can somehow get the tenant to pay.If a tenant leaves, you should be able to verify the bill status BEFORE refunding any unused security deposit. 

Each fluctuates regularly so it's really just about maintaining that balance between the three as best as you can.

if it's a "cash-out" then it doesn't matter what it's replacing. also, my last cash-out was 4.5% and I know regular investment rates aren't much lower.