I would start looking for another place and let them know why you are not going to be renting and ask for your full deposit (if any given yet) to be returned as they have not lived up to the terms of the lease. 

That would give you a down deposit and likely better monthly cash flow without the need for a property manager.

I could increase the rent by $700 to match market. 

Was the deposit received and did it clear.

For example, last week the governor of Illinois extended the state moratorium to “match the federal ban”.

Best case is take it out of the deposit if there is money left over.  

There will always be more risk and wear on a short term rental with unknown weekly tenants and potential profit must match the risk I vet my tenants very thoroughly.

Since $100 was sent to payoff the first loan, now you get a check for $20 that you deposit into your bank account.Remember, the lien position is key..trying to figure out whether to refi includes determing your actual fees/costs to do the refi and how much interest are you saving per year. 

I have a lease coming up due and the lease agreement has 2 people (not related to one another) on the lease with an initial security deposit of $1000.

After paying the standard 3% earnest money into Escrow the buyer then cancelled the contract and demanded the deposit back.