@Eric BarriosAlways get an estoppel signed by the prior owner an all tenants regarding lease agreement specifics, security deposit held and amount paid or outstanding.There are countless stories of new owner finding out from tenants after the fact a different stories than what was told by the prior owner before the sale.

Also mentioned I could take off the security deposit depending on damages if he moves out, and can give him an 18 month extension to pay rent free.

The other side is singing a new lease with first, last and security.

The rate is cheaper since it secured against a piece of real property vs a personal loan for example. 

the hloc is just another loan secured by your property.

the hloc is just another loan secured by your property. 

The owners are selling otherwise they would have stayed longer.How much would you deduct from their security deposit for these two floor scratches? 

During the initial walk thru a year ago, a comment was made regarding the door possibly not being "secure enough" that I ignored.

Can the landlord deduct the amount from the security deposit of the tenant?

Larger down payments-Hard money lenders take on more risk since they don’t dive deep into your financial history, which means they want more skin in the game from you for security.3.