This sounds like it would be secured by a second position note.

You could send him to a collection agency for the amount owed after you deduct the security deposit.

Also, be sure to confirm the status of the security deposits with the owner and tenants (via estoppel letter).

All written in code, there was no man sitting in the box answering your responses.

Roatan Honduras does not have mail delivery so there is no postal address or zip code.

If you go with RentRedi.com, let me know and I'll send you a code/link.

Purchase price: $152,900 Exterior Improvements➤ Mailbox install, roof pressure wash, ramp removal➤ Smart locks on all exterior doors➤ New HVAC system with cage➤ Crawl space vent & door install, window functionality ensuredInterior & Safety Upgrades➤ Full interior paint (gray walls, white trim)➤ LED lighting throughout; smoke & detectors added➤ Deep clean, blade plug, fire extinguisher installed➤ Damaged doorknobs replaced; security system removedKitchen & Bath Renovations➤ Painted kitchen cabinets, new Formica counters, Hard wood flooring➤ Second bathroom addition in laundry area➤ Master bath: new vanity, resurfaced tub, LVP flooring, exhaust fanGeneral Repairs & Touch-Ups➤ Weather stripping, attic trim, drywall touch-ups➤ Tree limb removal, door painting, door hardware updatedStatus: Turnkey-ready, fully modernized, excellent rental appeal Nice!

Your State likely has the requirement for you as the Landlord to mitigate your financial losses by putting it up for rent to secure a replacement tenant as quickly as possible, so do that for sure.If your facts are not in dispute, then keep the Security Deposit as liquidated damages, still sending the tenant the mandatory SD reconciliation letter according to your State statutory period to the tenant forwarding mailing address, and be done with it.

- Security deposit must be allowed to be payed in installments over 6 months?

Also, do you know which zip codes you're targeting?