I hold a normal security deposit.The remaining tenants are deciding whether to:Not replace the missing roommate and just keep paying as a smaller group (fine by me), orFind a replacement for me/my PM (who helps me with tenant turns)  to screen (baseline: 650+ credit, steady job ~2 years, standard app + fee).I’m looking for simple, practical steps (no legalese) other CA landlords use:If they don’t replace: Do you just keep the same lease and add a short, plain-English note everyone signs (e.g., “we’re continuing with fewer people; rent and deposit stay the same”), or do you write up a whole new lease?

What’s been working for me and my circle lately:Seller financing: solve the seller’s problem first; short-term interest-only with a balloon after value-add keeps cash flow strong.Sub-to/wraps: take over low-rate loans and keep the seller whole—huge when DSCR is tight.Hybrid: small seller carry + private second to cut cash in, then refi into DSCR once stable.Private money: secure with note + mortgage/deed, pay on milestones, send updates—consistency = repeat capital.HELOC/LOC stack: close fast, cover rehab, then refi—speed wins deals.Lease-option: control now, improve, then exercise once financing improves.

It’s a healthy exercise for me to look back and question my evaluations with the benefit of hindsight, and I think it can also be useful to others. 

It's very simple..it's a contract with the price and it's being purchased on terms or subject-to.

As an exercise, I used the "Top 100 Cash Flow Markets 2024" from BiggerPockets.

When I started adding rentals, I kept it pretty simple: spreadsheets were my main tool for tracking cash flow, loan balance, and equity growth.

Using turbo tax if you have a simple return is okay. 

.- One of the best statements made, that I found in this course is "Keep it simple.

3/2 house located in Pasadena Heights subdivision of San Antonio, TX 78210 (No HOA) Before and After video: https://www.wevideo.com/view/3783775195
Here is a property one of my buyers purchased for $119,000.00 back...

It’s not just cash flow — I’m also trying to account for rehab costs, refinance terms, and how much equity I can actually pull back out.Curious how others here approach it: do you build out your own spreadsheet, stick to a simple formula, or have another way of keeping the moving pieces straight?