The first approved applicant is offered the rental and I give them 24 hours to pay the deposit and sign the agreement.

After that my contractor will be taking a look at the foundation and roof for me before i place any deposit.

I had a rent-collection setup on Azibo for $1850/month, with an $1850 security deposit.

I've already put down a significant deposit and now I'm considering leveraging a 100% loan for a second property, with a budget of up to $600k.

There are endless ways you could structure your partnership, but you want someone to advise you how to do it in a way that protects both of you and your assets in the best way possible and with the right taxation structure for your particular situation.

I do think you can normally get funding in that time frame and it doesn't have to be actual cash for balance but I do think the deposit has to be cash, debit, certified check etc. 

They and their competitors guarantee the security deposit and the rent for a monthly fee.

Sounds like property taxes were up to date… what state did you buy this in.. some states like Ohio sales work this way you put up a deposit of 5 to 10k sometime a tad more then you have a settlement when the judge signs off.Or maybe this is a private auction and you just put up non refundable EM maybe ??   

If you transfer money into it (particularly large deposits for down payments), they would just want to show that trail and where it came from. 

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.