I know permits and city inspectors can be a hassle but here in Miami they are 100% a guard against getting cheated with shoddy/incomplete work.

Most humans, once our basic needs and security are met, are far better off in life by measuring incremental joy than by measuring incremental financial returns.

Definitely get that legal opinion, not just on the OA but on whether this is offering a security or not.

The seller got really mad over something and kept the security deposit.

@Kevin Kohler was looking mainly for typical residential HeLoC access with the property securing it.

IE: House Hacking - 1) Identify a 2-4 unit property I can live in and rent the other units such that net rents cover most of or exceed the mortgage payment, goal: live rent cheap-or-free; 2) Secure long-term fixed rate mortgage/debt; 3) Hold and live in the property as I focus on honing my property management systems/skills and accumulate of capital for the next deal.Step 2: Call financial institutions (local banks, I'd start with Happy State. credit unions, Frost, etc) and figure out financing options for your chosen strategies.

Even hard money loans without your home being used as security like a HELOC loan.

Forfeiture of 1 month’s amount of security deposit?

So, send/post a Notice of Quit which is the first step in the eviction process advising that the lease has expired, they have 3 days to vacate, their security deposit is at risk, and eviction will be filed immediately.  

Secondly, initially we engaged with one attorney to handle both the securities work and sale agreement and transactional activities.