I gave them a 1 year lease with no raise to their low rent. ( I know - dumb).now that it’s up I’d like to raise rent And offer them a 2 or 3 year lease so I have security. 

My primary focus is to great passive income and too secure Financial freedom so I can enjoy the time I’m given with family and friends.My main focus is buy and hold rentals (single family, and multi units) but wouldn’t be opposed to a fix and flip or wholesale, I personally think having some of both helps with an exit strategy depending on the market.

I might do it if the agency would be responsible for rent and security deposit/damages.

So really, this is a no money down owner financing deal, but the liens have to be paid before we can move forward.I'm looking for $175,000 which will be secured with the 3 multi-families I mentioned above.

Beware of these types; a number of years back I had an application from a desperate somebody who had nine landlord tenant filings (AKA eviction filings), and when I contacted them to inform that I would be declining them, they replied it is OK because they found a place that would take them.

You get a NROC deposit greater than any you had to put down to secure the property. 

If the answer is that he was just putting it in the bank, I would explain how he could be secured by making the loan to me and collect higher interest on his money.I would also offer him one other tidbit that worked in numerous situations.

I recently worked with a small town bank to secure financing for a deal.

I pay mortgage, taxes, insurance, repairs, management, etc.Account B: Tenant security deposit is held separate from all other funds to ensure I don't spend it.Rent income should be more than enough to cover the mortgage so why are you putting money into the account?

@Margaret Buoncora - you will need to file a foreign qualification form in every state you plan to do business in.