And I have a question about security deposits. 5321.16 Procedures for security deposits(A) Any security deposit in excess of fifty dollars or one month's periodic rent, whichever is greater, shall bear interest on the excess at the rate of five per cent per annum if the tenant remains in possession of the premises for six months or more, and shall be computed and paid annually by the landlord to the tenant.We're planning to charge $650 for rent and from what I've read, the security deposit should be about the same as one month's rent, so a $650 security deposit.

You want the interest rate to be equal to at least the applicable federal rate which is currently 2.5% or so.It could be different for an installment sale, but that is my understanding of what should be the minimum tax charged to avoid IRS tax implications.

The best credit repair companies out there is the ones that do not charge upfront fees.Joe Gore

One key thing they are looking for are NSF charges and negative balances.

Many Real Estate Instructors or Guru's out there will charge you big bucks for their program and then once you have purchased their program, you find the system doesn't work or you never hear from them again. 

My initial thought was to start a holding company with the 400k and start doing deals.

I've read about the premium they charge and the shoddy rehab in some cases and the lack of rental guarantees, etc.

If there is over 250 dollars worth of personal property left you have to store it for ~7 days (can charge reasonable storage fee) if more its something like 45 days.

Owner finance (similar to contract for deed if that is legal in your state) is a good way to get out of your situation, with the possibility of making some money on the deal.Ask for at least 10% down and figure out what interest rate you would like to charge (depends upon their credit, I suggest nothing less than 8% even with impeccable credit.)You can use a mortgage loan calculator online to get the amortization table, and there are companies out there that will 3rd party service the loan and report to the credit bureaus for you.I suggest finding a real estate attorney in your area that has done these to structure it correctly for you.

Or better yet, would it be worth my while to message you and ask you that seeing as how I did read your initial post and that may be out of the realm of this board?