That consideration usually in the majority of contracts is an Earnest Money Deposit (EMD). 

Additional prior to move-in deposits: Cleaning Deposit $400.

Banking sector could make profit too during high interest changes because of the spread between Fed and deposit would make huge profit.These are reason why rentonomics in commercial asset risk/reward are the worst during rate changes. 

Glad to hear that most of the people here are also concerned.I haven't been asked for any fees or wires yet, just the application (which I haven't filled out). there is no 6 to 7% interest loans  the only exception is a local community bank where you would have substantial deposit relationship a local project etc..

If you are set on self managing though, here are answers to your questions:- Most of the time in the U.S. it is just first month's rent and security deposit, I believe that this is actually determined by laws that vary from state to state.

Remind them that the security deposit cannot be used towards the last months rent. 

We are currently using RentRedi but there is a long lead time from when the tenant pays to when the money is deposited into our account...sometimes up to 10 days.

So, for example, I can have separate sub accounts for each property's security deposits, CapEx and even profit in addition to my general bank account for each property.

Will they allow you to receive direct deposit?

The 1% is when it's a bank and the sponsor has VERY significant deposits and/or other business with them and uses that as leverage but that's not applicable to anywhere here.