It is more likely what the market will bear.If you make the security slightly less my gut feeling is that the tenant will then just give you a check for the difference for the last month - which again defeats the purpose because then again you are not holding ANY security whatsoever for that last critical month.If you are charging 1795 a month the renter should be able to come up with a month and a half security.

And some have no real estate exposure whatsoever and aren't set up for direct ownership of real estate (and have no desire to do so). 

Thanks for all your help, I actually made the mistaking of using the sellers realtor and he did not represent my best interests whatsoever I guess the few thousand I saved was not worth that idea, the blame for that is on me.

But I was also learning and had no experience whatsoever.

@Michael Blank is active in the multifamily space and is where I cut my teeth on multifamily.

Cut your teeth on your first purchase (leveraging a good investment friendly realtor) using your non-retirement funds, see if you can maybe find a family member or friend that would be willing to go in on the opportunity with you. if you cannot find anyone to defer some of the capital expenses, I would look at either buying a single family home and house hacking it (look for a home with an adequate floorplan to allow somewhat separate living spaces) and you live in the smallest portion of the property if you can, and try to eliminate your entire mortgage expense with your tenant. 

This property appraised for $235k after 6 months with no rehab done to it whatsoever.

If you claimed the standard deduction, there would be no tax consequence whatsoever. 

I did not receive any money whatsoever from my parents or anyone else.

Those are teeth marks on the blinds and the scratches in the tub are likely from the dog being given a bath(s).