Not sure what state you are in as each one has different requirements on holding security deposits.Legally (in Minnesota), yes, you should deposit the amount in a seperate deposit account.

I suggest putting 10 to 20% down so you can secure a decent rate.

Obviously, you're keeping this scumbag's security deposit!

before you "do a website" - make sure you know exactly what you're going to use it for.you may find that it complicates things and keeps you from doing what you want - which is to buy real estate low and sell high, rent, etc...it's weird, the LESS you do, the MORE likely you are to get where you want.S I M P L I F Yyou start throwing in all this other stuff and you get bogged down and before you know it, you're sitting on your thumb...ouch...

Other companies are more flexible and will let you make loans, buy a house or invest in securities that aren't publicly traded.

Hey Brad, I'm brand new to this forum, but I'll throw in my 2 cents.Have you checked the rents on your area?

A wrap or AITD transaction includes you transferring title to the buyer and taking back a lien (trust deed or mortgage) to secure the loan you are extending to the buyer.A variation that some will use is a land sale contract.

Rent is going through the roof here and I feel like i am just throwing money away.

If you had a 1 bedroom penthouse with secure parking and other things that are not reflected in the data you will have issues.

I also think it is a cost of securing that asset protection by using an LLC.