Posted by Chris on January 29, 2000 at 22:38:56:
The security deposits thing you should check with a lawyer to see if it is allowed in your state. Remember that those deposits are supposed to be returned minus damages after tenant move out. However, that sounds like one of those things that you could keep going for some time. The way I see it when your old tenant moves out any deposit refund he is owed could be payed from the new incoming tenants security deposit. Things might get tight if you have a lot of vacancies and no new incoming tenants to pay the old tenants off.
Sheets uses these two techniques also in his course.
-Good Luck, Chris