For my new tenants we executed a pet addendum and established a separate pet security deposit.  

Use your brain for something more beneficial at the moment, or establish your needs to a financial consultant and let them handle this aspect for you.

If a person loses their house to a bank, the bank will most likely still win because the bank will have established significant collateral... the house, as well as lender paid private mortgage insurance (LPMI) in some cases.But your point is well taken, rule breakers are rule breakers.

I do feel I've got a bit of mixed answers on things like these.To be honest, I see two groups of very well established people in the notes forum: One group that mostly deals in the hell you could find yourself in if you do something wrong, and a second group that almost seems to be saying, 'don't overthink it, just do it.

First, I always recommend they wait a year because it allows you to establish a payment track record.

Hello friends, Being in the mortgage business for the past 4 as well as being a property manager i have established a pretty good relationship with a good amount of realtors.

Let this same tenant done the same with one of the larger multifamily establishments that has over 100 tenants.

Looking to establish relationships with full-time active investors in Raleigh who can share some local knowledge of the rehabbing business.

You need established criteria that don't change from the first to last applicant in a cycle, you need to apply it consistently, and don't take into consideration any of the protected classes/discrimination issues.

OR Is the "Mortgage Deed" that you refer to a typical Mortgage (or Deed of Trust) which establishes a lien against the property?