That will be your competition so I'd call around and see what new 2bdrms are going for in that area. 2011-2014 I paid  $1300-$1450 (rent went up over 3 year period) for a brand new 2 story, 2 bdrm loft and had a gym. pool, business center, etc - those bldgs also offer low deposits/move-in incentives since competition is high for good tenants.  

My question is, do I charge the previous tenant for the work and take it out of their deposit?

I have found did you have $20k to deposit you can find a small bank or commercial lender that will loan you the rest of the money.

Tell them I report everything so cash won't help me and will only invite burglars.As to the business name not filed, it's OK, except you just can't deposit checks made to the fictitious name.

If you think he will be a problem, perhaps you can require an increased security deposit (check with local laws to see what is allowed).

I put a $1250 deposit on an adjudicated property.

I'm pretty sure if you get the investors money deposited into your account, you have to "season" it for 3 months, or let it sit for 3 months before they let you use it.

[O.C.G.A. 43-40-12(g)] However, even in this situation involving personally owned property, the inactive licensee remains subject to the provisions of the license law requiring disclosure of his or her licensed status in real estate sales contracts and leases; in advertising to sell, buy, exchange, rent, or lease property, and in handling any earnest money or security deposits.

(Propoer Ins, underwritten by Lloyds seems like the gold standard here.)I would also be willing to put down 2 months rent as a deposit (max allowed in MD, I believe, and double the standard). 

The new magistrate is pretty liberal when it comes to security deposit issues and what is & isn't considered normal wear & tear.