While it can feel a bit scary, its an option to secure a property that makes sense from a cash flow perspective.

I'm looking to buy my first investment property in Buffalo and I've been surprised at how many properties have tenants paying way below market rents with no security deposits.

You may need to show proof of deposit for first months rent or security deposit as well.

@Jonathan Bell If your long-term goal is to keep on buying apartment/rentals for a long time, then it will be good to create an LLC because it gives you credibility and reassures them that yours is a real business and thus making it more "official".

Assume "Yes", versus finding out when your local building official issues you fines.

Going into her bank and having the bank give her a "Secured credit card" where she puts money into an account and they give her a card like a debit but it reports to all (3) bureaus (Not a debit). 

I actually have a friend that used a love letter and was able to secure their dream home, so I will most definitely work on putting one together.

Now the official close is set for next week.

A promote is reasonable for securing all that extra financing but not a 20% one.I’d separate split of cash flow from split of equity too.

Put another way...society says to go to college, get a job, work up the corporate ladder, and retire at 65 with social security benefits.