Check your local laws, but I suspect you don't have any legal obligation to do anything with this deposit that really doesn't exist.

We average around 80-120 gallons per day and with the warmer weather finally arriving I suspect it will be higher.

I'm already suspecting fraud with this deal but don't want to be cynical so would love to get some professional feedback here.A friend of mine introduced me via phone to a guy he's "working with" in New Jersey on RE deals.Basically this real estate person is offering a "joint venture" to people with 700+ credit scores to get in on a joint venture on properties in NJ.I'll try to sum this up as much as possible without leaving out any details.We'll call this RE guy Fred.So Fred's strategy is to buy off-market properties in the places such as Newark or Orange, NJ for sub $150k.

I suspect her score is low and probably shows some collections or judgments.Did you get a government-issued picture ID to verify her identity matched the application and background check?

I suspect when you get these answers you will see this is not anywhere near as good as you might think.

I suspect many of those who call themselves lenders on this board are affiliates -- basically commissioned salespeople.

I suspect after you do it yourself for a while you'll be able to answer that question better. 

Talk to a CPA with real estate experience.I suspect you would be better off having the property stay in your parent's name, which can eventually be inherited by you or your daughter tax-free.

Drug possession and suspect in a homicide indicates they're walking the wrong path and I wouldn't touch them.

I suspect if you call 10 random, smaller banks (i.e., not Chase, WF, etc.) you might find one who would be willing to do investor real estate loans.