When you purchase the property, the security deposit should be 100% intact and there shouldn't be any projected deductions from it.

I just purchased a SFH that we are rehabbing and will rent for a buy and hold.

Once you've identified your market and where you'll be purchasing to house hack (or if you'll do it out of the home you're in today) you'll be off to the races to start your journey.

HelloI am looking for some help in considering the purchase of a family members property. 

Purchase price: $18,000 Cash invested: $245,000 Sale price: $335,000 New Consruction spec home built with the help of a hard money loan from Upright (Fund that Flip at the time). 1420 sqft, 3 bedroom, 2 bath home on 1.8 acres.

Purchase Price: $39KRehab Cost: $32KARV: $100K  As you can see from the pictures, We redid mostly everything here; Windows, doors, flooring, kitchen, bathrooms and drain tile in the basement. 

I highly recommend that you utilize a low down payment loan (preferrably 5% down since it has less closing costs, you can get out of mortgage insurance once you hit 20%, and you save your FHA for another purchase) and move into a 3-4 unit property.

When you rent a home you normally have to get a credit check so it makes sense that someone lending you a lot of money to purchase a home would also want to see your credit history.

Purchase price: $81,000 Cash invested: $210,000 Nearly full-gut rehab in the Captain's Landing Subdivision.

Having said that my last purchases were Dec 2021 (I purchased $4m of RE that month).