And yes, I am hiring this firm to get the deal together, including bringing lenders to the table and securing loans with the new structure for acquisitions.What type of firms you are referring to?

Washers and dryers must be property maintained.Crime exposure is from employee dishonesty and money and securities.

Best thing to do is evict immediately upon non-payment, keep their security deposit to cover most of the losses, swallow your pride and eat the rest.

Now that I've (most likely) secured a good SFR for the family to live in, I too can start focusing on the REI business.Good luck!

Or maybe a larger security deposit?

You might bump into some money guys there, know they aren't "private lenders" they are hard money lenders fishing in the waters.You'll also find leaches there, (not a derogatory term) it's very acceptable practice in RE for an experienced person to team up with inexperienced players to get a deal done, these experienced types just leach onto newbies and work deals, there are some who do nothing but leach deals providing themselves with more opportunities with less effort.

If lender cannot seek liquidation of collaterals securing loan and no one is up to wasting money to open probate in order to have standing, only to facilitate a no-win short sale?

Conduct lease audit and make sure all documents are there (application, lease, proof of income, proof of payments for security deposit etc.) 

(I'm 50/50 on this..meaning, maybe your contact has direct access to Hershel Walker (he's worth about 12 mm I've read) or maybe your contact is 3 levels removed from a bankrupt former major baseball player.

I recently acquired a property in Michigan and a former tenant is now claiming that I owe her the return of her security deposit.