IF at the end of X amount of time I am not able to secure a cash buyer we can part ways as friends or we can look at a price reduction

If your LLC is not managed correctly it's worthless and a false sense of security.

Now it is easier to find good tenants by getting a report on them, a good lease, a month a half security and a landlord/tenant attorney.

I wonder if they'd be as interested in the property if there's a lis pendens on the title, or whether they're doing anything that is bordering on illegal by trying to coerce the seller to not honor the contract?  

@Ivan Vargas  any one looking for this information on BP is just plain silly.these are complex transactions and the only one who can guide you through them is a securities attorney in YOUR state.   

I don't know what the laws are in Minnesota but in Washington state landlords have 14 days to return the security deposit.

He took the tenant around to various apartments and, once he found one he liked near his job, he paid his security deposit and first 6 months rent up front.

I see a lot about how you should secure your method of financing prior to looking for a property.

The only true protectoin is to file a Security Deed to secure an option.  

I'm trying to find a simple solution to putting the security deposits into a 4 separate savings accounts.