I'd recommend using it for a flip if you can secure enough of a personal loan, and possibly leverage with hard money- as most lenders want skin in the game on projects.

Banks can usually lock a rate for 60-90 days for fixed-rate loan products, but can create other issues for borrowers by requiring depository relationships and ongoing covenants for property performance. 

Vickie,Here is a blog that wrote on deductions from security deposits, but always a good idea to read over your States landlord tenant laws;Security Deposits VS Normal Wear and TearThis is probably one of the hardest things to determine and explain.

The market in the area has performed well recently and the house is currently valued at $130,000.

If you aren't taking any profit on the performance other than a total of 5% for managing, then that seems better. 

If you were ready, willing, and able to close under the original deal, it sounds like you may have claims for breach of contract, anticipatory repudiation, unjust enrichment, promissory estoppel, and specific performance.

I hope this meets with your needs.I also wanted to remind you that work will be performed on the sidewalk on December 13th so please be careful and try and not enter around the garage for that day.

I have always performed annual inspections and the house was always clean and in good order, and I did in fact see the tenant in May 2017 at the last signing.The first thought that crossed my mind was that the tenant was trying to get out of the lease early and that this is one giant game that he is playing.

I also suggest having them help you craft an a straight option agreement as well.Make sure it's clear you have no intention to buy the property but you are selling contracts as a business, and doing this without a real estate license, you're now selling securities without a securities license as well.

In the past I have sent rental contracts to a potential renter who was stationed in Korea, did a walk through of the property via FB messenger video chat, ran background checks with TransUnions Smart move, collected security deposit via PayPal and emailed the tenant the code to the lock box that had the key.