i've been trying to decide what online tenant check service to use. but i've been reading that some of these services dont give you the info they entered, such as social security number, etc. 

After getting under contract, it was brought to our attention after requesting copies of the leases that the current owner did not put the tenants under a physical contract, nor did he collect security deposits.

You're a private real estate lender?!"

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

. $1000 security deposit.

Here are the variables that need to come to a lender to get qualified for loan:ExperienceCreditCash (probably 25% down + closing costs + reserves)Net worth (usually 1:1 with exceptions for lots of experience)If you don't have ALL of these, then you need a partner that will fill in the rest of the gaps.FYI, for commercial type loans in the private space, your income is almost entirely irreverent. 

I'd rather take $600-700/mo fixed and hold a security deposit than get $900/mo from 10 different airbnb guests, have to clean 10 times, etc.

The security deposit doesn't even come close to covering the damage.

I even offer them their security deposit back if there is any repair work to be done because of them if they are willing to do the work themselves and pay for any needed expenses.

Let's hop into a private message thread so I can get a little more detailed info so I can advise correctly.