Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

I think of it as job security.

A couple days after receiving the letter, one of the tenants sent me an email stating that they had no intention of following the checklist, and that in fact, they had been doing some research into NC law around security deposits, and they claim that because of a technicality, I'm not entitled to withhold any security deposit.The technicality they pointed to is that according to NC General Statute 42-50, the landlord is required to provide the name and address of the financial institution where the security deposit is being held, within 30 days of receipt of the deposit.

The database companies have electronic platforms but they are supposed to be secure and not available to third parties. 

If items are not cleaned or damaged, someone needs to photograph and calculate costs for security deposit deductions.

I know with syndications you need certain legal documents in place, does this apply to an investment group with under 10 investors, would I still need to get a securities lawyer and file with the SEC?

I went ahead and secured a HELOC.

Yes, college kids can do some more damage, but get bigger security deposits..there's a lot of money to be made for sure.Sounds like you're on a good track and best of luck!

I placed an offer on a triplex with security title company listed. 

Do you already have the $125k HELOC secured or is that your estimate?