A few other things were fixed.After the concession, prorated rents for April and security deposits(which I'm setting up a separate account for):I only had to bring $13k and change to closing.Property ManagementI feel really good about the lady who runs the PM Company in place.

When do I initiate escrow so the funds can be deposited for "Safe Keeping" until closing???

Out here that takes the form of a Certificate of Deposit.

I have heard both schools of thought, just wanted to hear peoples views on deposits from buyers?

A creative cash advance for a real estate venture deposit...Pat

In a class c neighborhood you need to consider that move-out costs are going to be much higher, because it is going to be very difficult to attract a tenant that is going to pay the right amount of deposit.

But ideally, we lock up the property with 10% down, and once the end buyer has given their deposit, the lender's funds would purchase/close on the land, fund the construction, and once complete sell the house with the previously purchased land as a typical spec house.

IF my father wanted to offer anything, I suggested he get (going rent in the area for 3/2 is 900) $1,000 per month for the 3 months up front, and then $1,000 for the deposit ( essentially money on the side in case the person has to be evicted) and see if they have the money to do it.

This is when I get the excuse as to why its not paid and when it will be deposited.

I'll want to see checks deposited in the note holder's account from payments that were made.If it were a note made by a broker with cash, most all of that info, along with an appraisal is in the loan package.