So, they have been living in our property that we have to make payments on and have only given us a security deposit and three months of rent for 8 months being in there.

You can use the security deposit for this if need be.  

Additionally, we learned to negotiate the amount of equity required, ensuring a fair distribution of financial responsibilities.As we gained experience, our negotiation expertise grew.

We are considering our options and trying to do our due diligence to ensure we don't mess up this opportunity or get into a situation where we become house poor and slaves to the TCO of a home.

What is the risk there with taking a venmo as security deposit and having a lease signed? 

One thing I always encourage my clients to do is to secure their investment legally, not just contractually.For example: where possible, I advise them to register a charge against the developer.

-based)Handles motivated seller calls and negotiations.Covers all five virtual markets.Works directly with JV partners when needed.1 Operations ManagerOversees systems, troubleshooting, and process flow.Coordinates with acquisitions manager and VA to ensure deals close smoothly.Strategic Realtor PartnershipsRealtors in each market handle MLS listings.Dispositions simplified: instead of a full-time Dispo manager, we leverage agents + our contracts.VA supports transactions by communicating with title companies, buyers, and sellers.Volume & ResultsWith this streamlined model, my company consistently closes 5–7 deals per month across multiple markets.

Initially I only offer a six month term, with the verbal assurance (both at showings and upon approval of applications) that the intent is to give both parties the opportunity to ensure a "good fit".

Partner Driven funded the full purchase and renovation budget, ensuring the project moved forward without interruption.

This is just ensuring you are getting a good deal in case the MTR biz doesn't work out for whatever reason..I think that there is a lot of competition in the MTR & STR space, but can still very on the area, location of the property, pricing, condition, amenities, and so much more.