Does the security deposit go to the new owners at closing, and does the tenant need to sign a new lease agreement?

Some lenders (depending on the number of units) will even require two appraisals..paid whether the loan closes or not.- Reserves.

It's the perfect storm of low end houses (they look nice, but they are all builder grade stuff where they are throwing these homes up by the thousands every year), high occupancy with most stays having a high percentage of young wild children, and tired parents after a long day in the parks that are too wiped to police their kids properly.

Okay I’m done:D My girlfriend and I are 21 years old and both blessed with the opportunity to stay at home until we are ready to move out on our own.

Just keep a close eye on them.

I recommend you focus on meeting that limit right now so you can legally close this tenant's account.

Found a buildable lot in a gated resort community  seller is just wanting to get rid of after 13 years (seller is older and not using amenities any longer)   Lots are cheap, couple grand   Seller only used it for owners rights to play golf, pools, tennis etcWould cost me closing costs, $50 month hoa, $50 year taxesIs there a market for something like this? 

I would probably need to refinance down into the 3-4% range to even get close to positive cash flow. 

Great Addition - on the switch from year to year - arguably the biggest flag in my opinion in Real Estate - "shiny object syndrome" switching from niche to niche repeatedly (especially as a "Guru") - whats tried and true for RE success IMO is people that stick with one strategy and niche (type, market, strategy, etc.) for years, stay focused when its in and out of flavor, and end up with big wealth and track record after years.Definitely flags of the last few years when people go from "STR" to "Multiamily Syndication" to "Boutique Hotels" to "Experiences" and so on... 

I was hoping to get close the the college area, and focus on student rentals.