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.

*I improvised and gave her the cashiers check first, it was still blank, for her own security so that she felt comfortable signing Warranty Deed etc. - Notary witnessed too (I'm winging it here!). 

Don't threaten to keep the security deposit. 

When I reviewed the actual TD, it said something to the effect of "this TD secures a  maximum of 501K in debt" since it was the TD securing a LOC. 

As a newbie looking to do my first BRRRR or Fix & Flip, I'm realizing I'm not sure what the proper protocol is with regards to lining up cash for the deal first (hard money) vs getting a deal under contract first, then securing hard money.

The tenants can have a security system in their unit, if they want, but the common areas are used by too many people to have a security system. 

Since you're obviously still negotiating terms I'd look at packaging the business and real estate as you are. 

I honestly thought that was a great way to put it in perspective.Separate PointI did disagree when they said pulling out the equity makes the investment more secure.

It has links to your state laws so you can (and should) read them for yourself but it also includes summaries of important laws like how to handle security deposits or evict tenants for failure to pay rent.

What bank should I put the security deposit it away in, big name or small community bank?