The lender tracks this information because they want to ensure that their underlying security is insured and they will be informed when you change the named insured.

Secure an option to buy the property later, but lock in the purchase price now.Happy InvestingDerek Dombeck

Planning on partnering with my cousin on a property and since obviously we file separate tax returns, I figure it'll be easier to manage profit sharing through the LLC.Whether or not we buy the actual property through the LLC is to be seen, but based on the bit of research I've done, that is unlikely.

Talk to people at your local meetups and REIAs to find out what they are willing to pay if you secure a contractGood Luck and Happy InvestingDerek Dombeck

How do you go about collecting tenant rents/security deposits?

One of the most common investments I see in SDIRAS is people lending money, secured by real estate. 

You own a promissory note that happens to be secured by real estate.

From what I understand, when a bank does a REFINANCE, they lend up to 75% of the VALUE, rather than the COST, allowing me to avoid a 25% down payment, and making it possible to pull equity out.Should I file the Land Contract with the Register of Deeds?

Therefore I suggest bookmarking a fe links to access resources like checking out these calculators , the file place, REI resources, and looking into getting some or all of the really awesome and necessary books offered here on Bigger Pockets.

I'm curious how I can deduct this from the tenants security deposit?