It’s not a quick or cheap process, but could serve as an alternative to a quiet title actions in states where the legal process is onerous.

Each community restrictions and how the government works internally is different.

S8 is high risk, not due to payment so much as opposed to damage/abuse to property, violation of the lease, restricted breeds of dogs, bringing in unregistered tenants etc.

., any restriction on rental income would be at the discretion of the particular banker. 

I know of a few drug dealers who are making millions of dollars...just because it works doesn't mean its legal or right.

Yes it costs money but it will memorialize in a legal document what everyone gets at the end of the day.

Security deposit amountYou can find plenty of examples by searching for "tenant estoppel certificate doc" or exchange "doc" with "pdf" for more options.Here is an example and explanation: estoppel certificateSome have a lot of legal jargon but this document does not need to be so detailed.

What have you guys done in the past and am I legally allowed to move that money where ever I want? 

He also said to be very careful how the funds (last month and security) are handled during any eviction proceedings, ie be certain to keep funds escrowed properly and not used for legal costs. 

My personal favorite is "Every Landlord's Legal Guide" by NOLO.