I am currently procesing an eviction for failiture to pay two months of rent, how ever this is an inherited tenant from when I purchased the property whom I dont have any social security or ID information of him just his name.

But anyway, should I charge them some small amount, maybe $200, our of the security deposit even though I was going to be replacing the carpet anyway after they moved out?

The idea is to use investor capital to secure rental units.

What kind of LOC is it (i.e. secured, unsecured) and do you know for sure it's legit? 

I am just getting into Real Estate by obtaining my license and working to secure an inspection franchise.

Better job security and I am not subject to his/her rules/standards if they become outlandish.

I am wanting to sell some very secure cashflow from NNN leased commercial property with BBB- or better national credit tenants.

In the first instance, you simple need a partnership agreement (or a company) with you as the operating/general partner to make it official.In the latter case, you may find yourself in the realm of securities regulation which will add much more cost and effort to your fund raising.

Technically that is not correct, and could bite us in the butt, but I haven't had to fight it yet....After they vacate the property, within 45 days, you need to send them a final accounting of the damages, cleaning, etc and how their security deposit was applied..

Our securities attorney is working through this right now.The good news is that we'll be offering a SaaS service for principals to use our technology soon.