I have heard way too many stories of landlords not handling a security deposit properly and if the judge finds out about this during an eviction you could be ordered to pay the tenant 3X the amount of the deposit in damages. 

Having been a high volume REO agent in the past I can concur there are many details involved that must be transacted properly on both sides of the transaction in order for the seller to substantiate taking what is more often than not a serious loss of capital.  

You can make adjustments as you move along while executing your plan.

I am a sales executive in NYC and I am looking to work with my brother who lives in Charlotte, NC to begin some buy and hold rental investing there.

This common use area was great for us, but now I have huge space that I am not collecting rent on.2.Not properly vetting my property manager.

Wholesaling is sort of the opposite of a real estate agent in some regards, though not necessarily in a negative way, and it does NOT require a real estate license -- it's just finding the right deals in neighborhoods with potential (NOT war zones) and filing and recording the correct forms and legal documents to execute the real estate transactions.

Just a note of caution that the mechanic lien must be properly named and notified in the foreclosure action, otherwise they could come back and reclaim.  

Seth B.We would normally follow the approach Marcia outlined above - take a holding fee (non refundable, but transferrable to their security deposit if a lease is executed).We frequently rent to international students (dealing with two in Germany and one in Australia at the moment).  

Without knowing a LOT more info your question can't be properly answered. 

Typically, on a house you're gonna end up signing a contract that says you'll close within 30 days of execution -- I'm sure that number varies, but that's what I've dealt with.