As the seller, why would you return the deposit?

Are the prorated rents being given to you (along with deposits) or is the seller keeping it? 

The deposit we require is NOT earnest money.

However, another option is to call a few local credit unions and banks and see what options they have, they might just require you use them for your operating account and some might even require some deposit minimum too.

We decided to keep their entire deposit of $2000 and bill them the rest.

I have there $575 security deposit.  

I continue to get emails from Steve Mayer of Finance holding Company, but he keeps wanting me to pay a deposit + his 2% origination fee upfront...seems like a scam and wanted to see if anyone has done business with them in the past

I’m the meantime I was able to find a new tenant who has paid the security deposit, first month rent, and has scheduled utilities to be transferred to their name but no lease has been signed yet.

Also don't forget to get an extra bank account for security deposits and set aside money for repairs.

And then I would be depositing checks from my HELOC into my bank account and using that to pay of my credit card.