But if you give it to him now, then he doesn't pay the last month, you have no deposit..Good luck!

I'm competing with two different groups: New apartment buildings with top rents and new commercial furniture and older properties with 40%-50% of the rent and yard sale furniture.I decided to split the balance and furnish my houses with matching IKEA furniture, at least for the first few years until I can afford the good, indestructible commercial stuff.

If the story is too good to be true, send them on their way.One thing we now do is hold the deposit, more than once management companies disappeared on us with deposits.

." ::-)Turns out the tenant's kid had been playing with matches in one of the upstairs bedrooms and had started a really good fire.

When the aspects of servicing are explained I never had a borrower who refused to pay the expense, it's generally less than PMI.Hope you deposited all payments as soon as you got them, the date they wrote the check and mailed it is not the date of payment, the date funds are received is the date of deposit.

You'll obviously have quite a few credits from prorated rents, prorated taxes and transfer of security deposits.

Normally, do wholesalers give the seller a deposit?

But I would not return the security deposit until after he got everything out.

I think I got in for first and last months rent plus a security deposit and I negotiated a purchase option that was extendable for a year (2 years total).

@Nick Payton , not sure if the 50% rule counts escrow as an after mortgage expense, but here is the breakdown:Mortgage payment: $388Escrow: $237total: $625Expenses:Utilities: $250Maintenance: $1075% vacancy: $70CapEx: $110total: $537We'll see how well those numbers match up with reality in the next few months or so, with these numbers my cash flow is closer to $250 a month than $300, guess I got too excited in my original post =).If Escrow counts towards expenses (taxes and insurance) then I meet the 50% rule for sure.