And the local building official called it commercial.I think we can secure some rehab financing, but we'd like to do a long term commercial loan once we have it repaired and rented.

I'm retired Navy and I currently work for the Government, so stepping away from the security it provides will be scary.  

What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuitsHow familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?. 

What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuitsHow familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?. 

I have laid out the fees as follows...New security deposit of 1250 (up from 1000 originally). 

The tenant will pay the fee + first, last, and security.

Ask your "security guy installer" if his company's Errors and Omission's Policy will cover you based on "security guy installer legal advice" when you are arrested and/or sued for illegally recording conversations without advance consent.

Although, I won't be able to get back the time I have lost due to my own ambitions, I'm ready to pursue a way that will eventually grant me the ability to focus on what matters most. 

By screening applications and selecting people with secure jobs, good income, and good credit, you will reduce the risk a ton.I manage 340 rentals and less than 1% of them ever leave owing more than I have on deposit.

@Chris Bisaillon of all the national lenders I've seen investors work with Aaron Chapman with Security National Mortgage Company has the most competitive rates and actually meets timelines.