My advice is for this small piece, don't goto the agent, rather try to sell it to a direct buyer.

How will security deposit be handled?

View report*This link comes directly from our calculators, based on information input by the member who posted.

I am really most interested in trying to pay down debt that I already have.Other things I have heard about are self-directed IRA's where title to a property is held in the name of the IRA. 

that’s the direction I chose to take.

This is due to a special rule under Revenue Procedure 2002-69 that states that a LLC owned by a husband and wife in a community property state is also considered to be a disregarded entity and for tax purposes, the property is treated as if it is owned directly by you and your spouse.

View report*This link comes directly from our calculators, based on information input by the member who posted.Curious what you all think about this deal?

Mitigation also comes from being able to keep or use the security deposit for rent, but this is the absolute last resort especially if there is damages done to the place. 

As I sit here at my J-O-B sharing my first post to the bigger pockets family, I would like to get some feedback/ direction.

Since the rents make the mortgage payments I want to say keep it, but any CapEx and repairs (already had to replace both AC units) come directly out of pocket.