Shouldn't your broker be involved in this security deposit issue? 

I'd be open to a month to month lease, but I'd still have them go through same screening, same deposit process, and same rules as other tenants.

When i was ready for the tenant to start, I called them because I did not see a way to collect deposit/rent.

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

The wear and tear on hardwood floor - carpets has no recourse beyond the deposit damage if there is pee or replacement costs needed.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

However since this is a very large yard their deposit will not cover the amount that would be required to bring the front and back yard to the same condition before they moved in. 

I found key input errors on two deposits which created over $20K additional income that wasn't caught.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

If I'm reading that correctly, it means if you back out then there is a fee that is likely coming out of your deposit.