If they don't bring me the security deposit IN FULL then I offer it to the next person in line or put it back on the market.

My property managers in NC explained that they do not charge security deposit for paint, ever, even after 1 year, so if there is damage to the wall, they will charge for the repair, including to repaint that portion, but not for any touch-up or repaint.  

Collect first and last months rent up front and one month security deposit 

Quick Facts- Judicial Foreclosure Available: Yes- Non-Judicial Foreclosure Available: Yes- Primary Security Instruments: Deed of Trust, Mortgage- Timeline: Typically 120 days- Right of Redemption: Yes- Deficiency Judgments Allowed: Yes

Goals:Make supplemental income to help pay for daycare.Use income from investments to build a secure foundation for my families future. 

Only un-secured loans are allowed and require a larger down payment, typically.  

In that case, I think all you need to show the bank is that you have a fully executed 1-2 (or more) years lease agreement locked in with a tenant, who has given you a non-refundable security deposit (1-2 month worth).

I don't want to step on your toes in your market, but I'm interested in learning more about how you found these properties (on/off market) and what types of neighborhoods and tenants you secured.

There are certain fixed costs when do closings and a loan so the smaller in price a property it is the higher your closing costs as a percentage of the sale.Usually a 24,000 property is in a poverty type area with increased crime and increased risk to the HML's capital.Loaning out for instance 80K on a high quality area for a rehab when the purchase is 60% LTV for a resale into the mid 100's makes for better security for a lender.Going to friends for a partnership or family for the money but if you are buying a property worth only 30k I do not see much of an upside for an investor or a lender. 

Another loan is a bridge loan that uses equity in your existing home to buy the new home, they can also take a security interest in both properties, when the old home sells that amount secured is applied to the loan.No lender is going to want to provide a new loan with the expectations of a long term loan arrangement on a property that is being sold.