Know your ARV if you're flipping, or your rental/refinance strategy if you’re holding.The more prepared you are from the beginning, the better your chances of securing funding through a private lender.

With a months rent and the security deposit you probably would have broken even. 

Security Instrument3.

They will not issue a security deposit check they will only give you a voucher letter to submit a claim.

Renters Insurance - You may wish to require that your tenants to secure renters insurance with property and liability coverage of $200,000 or $300,000 dollars for property damage

Many people reach out to me for STR, DSCR, rural loans and now you have added 3 compounding risk factors in the banks eyes so in order to overcome this determination of risk, it is imperative to have the following if you want to have any success securing financing for your next adventure AirBNB:1) bullet proof credit score2) very healthy reserves3) experience is almost a requirement now for these types of scenarios but at a bare minimum, you have to have owned your primary or have extremely well documented housing expenses.Hope this helps people understand a bit more about why these are trickier than normal.Cheers! 

One potential advantage is to elect to have the operating LLC taxed as a corporation, which is taxed at a flat 21% rate (although if dividends are paid out they are additionally taxed) or an S corporation, where net income is “passed thru” to you individually but no social security or Medicare tax is due.  

Use a standardized application that collects:Full legal name and contact info, Social Security Number (for background check), Employment and income details (past and current), Rental history (with landlord contact info), and Authorization for background and credit checks. 

Something smells fishy about this situation.How have you confirmed there are security deposits and who is holding them?

Hard money is a great tool to utilize for securing the next property with less of your own money.