When I bought a duplex last year, I came up with a letter notifying existing tenants that they have a new landlord and explaining that their security deposit was going to be transferred to me, how I wanted rent to be paid, and how maintenance requests should be handled.

Another option: Get a credit card with zero interest (and do a balance transfer).Find a company (RDC Capital, local bank/credit union (smaller bank)) that will give you line of credit (commercial) and pay back those loans with the LOC, which should be fixed after the "draw" period (20/30yr if possible). 3Hope this helps. 

I read it here somewhere ion BP that you need vacant and rehab insurance,  lead inspection, and registration of property and transfer of utilities to my name.

@Kiersten Vogt I closed on duplexes last year and the deposits were transferred to me at closing.

Thanks @Luc Boiron, yet another aspect of RE that little one-door-landlord me needs to drill into - incorporation.Would the title search show a history of transfers?

As for the school info, 1 my wife and I don't have children but we plan to adopt, and 2 LAUSD is an open district which means you can send your children to any school within the district, its called inter district transfer and the schools in the area are actually decent avg 5 on great schools but you can also go magnet or charter.

My job transferred me up here from FLa few weeks ago.

So even if I transfer funds from my LOC to my checking I still can't use that?

@Art Allen,I'm a newbie, but the more I look at the pictures, the more i see the detailed work it went into:-(during construction) the caution yellow tape so nobody bangs their heads/lumber/tools (this rhyme with that comment about 20 years in the biz...)

I suppose I could run a heating vent over to it or put head tape on the pipes as added insurance?