We hired a lawyer to send certified letters to the children of the deceased owner, stating that they have fifteen days to respond.

You aren't trading international currencies or digital coins.

She went on to say that they are on it.. but its complaint driven.. so they get a complaint they will follow up and if its shown that someone is just trying to market a property they don't own regardless of the excuse I am just assigning a contract or what have you they will get popped.. first offense is cease and desist letter and small fine.. big player that gets caught that will get more serious and moves into a felony type thing.. but that's someone who just says screw it I am doing it anyway after already being caught.so basically in our little state you have to close on the house take title own or have an ownership interest clearly denoted in the vesting entity then you can sell your own property without being licensed so you must get on title FIRST before you market anything short of that is not legal.Its pretty much that way in all states if you read the statute's  just really depends on who wants to enforce.. to my knowledge  Ohio  FLA  CA  OR  NV are the most strict but there could be others.

I am going to write it all down and write the owner a letterhead letter with all these points.

I made some other assumptions, but I'm seeing mid single digit cash on cash return and not enough cash flow.

A lawyer suggested I write a demand letter for the full amount lost - rent ready work and months of rent damages.

I am not necessarily recommending them, but if you google that phrase one might be able to provide you a letter for POF.NEVER DONE IT, ONLY HEARD ABOUT IT!

Send the PM a registered letter stating he has until XXX date to close out your account and return the agreed upon security deposits and rents (being specific as to which months). 

@Colleen F. and @Theresa Harris are correct--it's all settled at closing with documentation, estopple letters and the HUD-1 accounting.Here is the background for a sometimes seemingly blurry picture:  the seller says "these tenants paid $500 for a security deposit". 

I have a side thing i do. its by no means profitable but i enjoy art, so i run a small biz doing logo design and branding.Its fun and I dig it!