Typically a deposit of 2K is required to reserve the spot, 2K at groundbreaking, and the loan does not kick in until the property is complete)

The challenge you may find is what if you approve a tenant and then the deal falls through or gets delayed and you have already taken a security deposit and made a commitment to the tenant?

I have seen some recommend Southstar and that might be a great option but they don't have a San Antonio branch so making the initial deposit to open the bank requires a little drive 50-60 miles.   

The three properties include a 2br, 1.5 bath condo in an A+ neighborhood, a duplex and a single family home in a C neighborhood. got to love OHIO.. your paying what we use for Earnest money deposits and you get a whole house  LOL

The prospective tenants signed the "Agreement to Execute Rental Agreement" this past Saturday and provided the holding deposit, and now I need to send them the actual rental agreement. 

I agreed to let him move in but he would have to pay a new security deposit and rent would be going up.

If a potential tenant in this order recieves lease agreement then makes payment including security deposit, first and last months rent  via certified cashiers check is the agreement valid if it’s not signed? 

Tell them a month before the contract is done that you will not renew and to turn over all leases, security deposits, and maintenance records.

In all cases get that done, review existing leases and deposits etc and make sure you get all the money turned over to you at closing!

Check out her prior rental history, even if it's from many years back, it may be significant.Retain a security deposit that will cover your needs should she default in paying her rent and/or cause damage to your property.