I wanted a 2 year lease/option contract at the time because I was not expecting the tenant to be able to perform in any period shorter than that and my goal was to actually offload the property, not just put them into impossible terms and keep the deposit.

Plumbing and a boiler aren't little things...This doesn't sound right and if you can get your EMD ( Ernest Money Deposit ) back I would and find a new realtor as well. 

I know it's not a good idea to rent to friends/family but I naively thought it'd be fine.It is NOW, but it was touch and go when he moved out due to some difference of opinion on damages and rental deposit refund.

I will play around with the spreadsheet and calculator and report back. quick question- I would assume that the security deposit should not be included in any calculations?

I am about to start my first mysmartmove application and it asks for the deposit amount but beside it says (per month).

She left and cleaned the apartment thinking she would get the tenant's security deposit.

I was going to get a signed lease and security deposit minimum for him to start moving in boxes.  

We deposited 4k on earnest money deposit.

(http://www.stuff.co.nz/business/65176275/auckland-...)Its virtually impossible to find positive cashflow unless you have a massive deposit or renovate/add value after purchase.I've done a tiny bit of research into commercial investing - and the numbers up front seem to be fairly similar to residential, just bigger.

If they can't, then the contract will be released and you will receive your deposit back.