Another idea I had was to keep a credit card on file and charge it on their move out for any outstanding balances if the security deposit doesn't cover it.

So for every phone call I get (when there's a vacancy), 7 aren't interesetd when they find out where it is, 2 are being evicted from somewhere else, and the final one has to jump through several hoops to get the first month's and security deposit together.

Granted, that's you generating that 12% more than the property or price you bought it at... but it's there as a 2nd job with a return if you want it.

I thought I heard something about the government granting a visa for buying at least 250,000 in real estate as a way to stimulate the real estate market.

I am thinking that this scenario would be a good way to give lenders security for a line of credit without completely sapping the ROE if one wishes to take a passive role in the underlying asset instead of managing the project.

They did not put down security deposits (why do you think I got such a great deal on the short sale:)) and I want to convince them it is in their best interest to just leave.

If it's a secured investment, the custodian will likely need a copy of the promissory note and DSD, which would be provided by the closing attorney or whomever you have write them up;4.

My contribution equals approximately 85% of the “all in” costs through bank funds I’ve secured.

The area has what could be a very cool shopping business district and it would be wise to invite some creative minded entrepreneurs to begin their business in the area with some sort of grants.

Nothing for vacancy, long term capital (even if its rehabbed, if you plan to hold for 20 years you'll buy roofs, furnaces, ACs and other pricey items), routine maintenance, make ready costs between tenants (some, but not all, may be covered by security deposits), legal expenses, lengthy evictions, accounting expenses, etc.Now there will be some months, most months even, when you only expenses are the PM, taxes and insurance.