And if he cannot cover the rent at your place because he is spending it somewhere else, then good luck collecting your money.The deposit can be used to cover the 2nd month rent if he doesn't find anyone.Also, it wouldn't hurt to *help* him find a new tenant.

Would i be able to deposit these into my account to use as proof of funds.

I will deduct $2 from their security deposit and make $1.83.I looked into having locks rekeyed in the past and it wasn't worth it financially.

I include in there my assignment fee, and I normally give the owner $1k of that, since there is no deposit with a LO, or at least you really don't want one.

I tell them that there will be a holding deposit of $500 for the month.

I am not a lawyer, but it wouldn't be a bad idea to put some earnest money deposit...

My attorney is indicating that it may be better to first create a new LLC B where all my funds would be deposited first and then pay off the bank.LLC B would also be under my name.

Just from reading information on here and seeing the endless benefits of real estate is motivation enough for me.

Great story- we send an loan offer to them and make them sign it and give us a refundable deposit of $250.00 as a payment toward doc prep prior to inspection and final approval.

Right now, I'm working on functions for Payroll & bank deposits, as well as refinements to the existing stuff.