You will want to make sure you do not hold security deposits in Chicago, but instead switch to move in fees in the future.

Of course, they had to get their net worth well into the nine or 10 figure range to be able to qualify for this role in large deals.And I also know a couple securities attorneys who get GP equity for handling the legal aspects of the syndication.

We let them know we require this for the safety and security of the owners property.

@Joshua Smith, I would start with a good securities attorney and strong compliance attorney.  

Main items of concern:Lease set up: Business to owner, specific items to include - boiler plate or company that can generate for a feeLiability issues and insuranceADA requirements: the owner had stated only required depending on what tenants live in the facility- carbon/smoke alarms - no ramps, etc (seems fishy as in construction rules on ADA are stringent)As the owner do I need any short of license?

Then just deduct from their security. 

Pricing seems to be all over the place, and would love to hear about personal experiences any BP members have had with building or securing alternative house options.The housing market has discouraged us, so looking for other options to get out of our current home in Reynoldsburg, and into something with a bit more yard/privacy.

Also, per Ohio law (where my rentals are) you cannot be reimbursed for wear and tear items from the security deposit.  

The thing is that the SFH market is tough to get into with families and investors both bidding to get those properties whereas this townhouse I was able to secure an accepted offer with slight overbidding.

Heck, social security is increasing benefits 5.9% and that's still not keeping up with inflation!