Since this is your first time, you may want to decide and document what your rental criteria will be regarding employment, credit & background check, the documents the prospective renter will need to submit, your actual lease will have to be in accordance with your local/state landlord tenant law and what your deposit will be.

However, as Bill Gulley has pointed out, the small factor of the positive cash flow makes it a challenge to find a vehicle to deposit the funds that would not trigger a taxable event.

You can pay a certain percentage upfront as deposit and remaining balance upon completion and final walkthrough.Are you talking about paying Contractor B a walkthrough fee?

Essentially, I would be taking all the monthly payment risk, vacancy, turnover, and deposit/damage responsibility from him, in exchange for a deal on rents to compensate me for that risk.

Free online payment options are available or you could have the tenant set up direct deposit into your account for free.

But I will also have to keep her security deposit.

I have his one month rent worth of deposit money.

Can the landlord keep my security deposit?

I imagine that can be pretty crazy.I don't think asking for a small up front deposit is anything too much to ask but not more than 25%.

I am looking for advice as it relates to the tenant leases and security deposits.