I have a teanant that moved out today and according to Florida law I have 15 days to return any unused security deposit.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

We secured hard money for the pre-approval; however, we'd be interested in comparing terms with other lenders over the next few days.

He pays what you call regular income tax PLUS 15% self-employment tax (Soc Security/Medicare).

CA is a foreign country.. and I learned this as a HML there.. not nearly as cut and dry as being a lender in the US>. the judges in CA have wide latitude to cram down your rate.. give borrower more time etc etc.. 

The general idea is that we “go wide” in accumulating a number of properties, and then at some point we “go deep,” by paying them down or off completely.

Yeah that makes sense on a larger property there are economies of scale so hiring security cost per unit wouldn't be as expensive. 

Is there a security deposit? 

We do have a secured solid wrought iron fence/gate to the alley, so the tenants are secure as long as they remember to lock the gate.I will go ahead and try to contact our council member and see if anything sticks there.

Your friend should send a demand letter for the return of his security deposit, or whatever portion of it he feels should be returned.