We also have a 50k note with a private investor at 9%. 

Hi ya'll I'm putting together a Pitch Deck for Private Lending and want to add Exit strategies to it.

In that case and even if not you should have separate bank accounts for security deposits and operating funds.

I have one inherited tenant that pays me via check on the first but post dates it for the 15/17 (his social security check deposit date).  

Possibly a secured promissory note with the house as collateral?

Possibly a secured promissory note with the house as collateral?

@James Dutcher  I haven't worked with that company so can't comment, but for me, friends and family are the only private lenders I work with. 

If you have an interest in the Hamilton, K-W-C , Barrie, Toronto West, or general GTA commercial/multi-family residential, then I have people to recommend as I've researched local agents for people I have been helping with their start in real estate investing.If you do start to invest in the Scarborough to Durham corridor, I have a set of trusted trades that I use and am happy to share because giving them more business helps me.I can relate to your being a securities investor first who is now looking into real estate. 

An alternate option to also consider would be taking the money and using it be a private lender on a deal with an experienced investor. 

He said he would move out by the first of next month but demanded I give him his security deposit back, in full, right now.