Hey Matt a trick I learned from the modular home builders is to embed 1/2 OSB on the walls (& flush against the 1/2 drywall) where you will be hanging wall cabinets & again where you need to secure the lower base cabinets esp. if you need further support for heavy granite etc.It sure beats looking for those studs & if you install an above-the-stove microwave it really helps to secure the sucker.

All the walls & ceilings had one coat of KILZ primer to hide the disgusting drywall of the past 15 years.Given the higher rent we were asking my wife simply laid out the plans we had for it & they took it paying 1st, last & security.

He is requesting to hold all security deposits which I am adamantly against both in liability and just overall pain in the rear.

Even Especially if you are borrowing from friends and family, you should use formal lending agreements and register the lien against the property (mortgage) to provide security to your lenders.

I've read Rich Dad Poor Dad and I know that a lot of the reason people is for job security.

In my day job, I am a corporate and securities lawyer and I frequently help real estate developers structure the legal entities they utilize for the investments and also comply with federal and state securities laws in connection with bringing on investors.  

Secure lines of credit, pay off consumer credit cards, and save cash. 

New to BiggerPockets forum posting (but not the blog which I love)...long story short..we have 4-flat in Chicago that we inherited and are under contract, but not clear if the buyer can secure the necessary financing and the deal may fall through so we looking at our options in case this happens.  

What about security deposit?

For now, let’s focus on the four categories you’re most likely to encountering when investing in real estate through an online investment or crowdfunding platform, going from the least to most risky:Senior Debt is secured by a mortgage or deed of trust on the property itself so if the borrower fails to pay the the lender can take title to the property.