First I would look into the requirements in that zoned area such as how far a home must be from property lines and then how far it must be off of the road or ally.

I hope to see you of all you at one or all of these events.  

I feel like I'm starting med school all over again ...Luckily no quizzes or all nighters but I am just to excited to learn... ;) 

Some PM's will mandate holding and controlling the deposit to avoid getting stuck in the crossfire of a property owner refusing to return some or all of the deposit to a deserving tenant.

Some do not require escrow if the LTV is below a certain percent, maybe if you make the payments to decrease a portion or all will be returned. 

Keep some or all of the 30K as cushion.  

Don't ever use a quit claim in Texas...they're not recognized by title companies here and will cause issues down the line when trying to sell. 3,  The titled owner(s) can transfer some or all of their interest in the property via another deed (special or general warranty deed) which will show how much interest is being conveyed.

Will I lose any or all the money put into the property throughout that short term hold? 

You can made generalizations about all three, and I may or may not want my kids to go to any or all of the schools in each, but i can tell you I own great SFRs in all thee and I live in one of them.

Now on my next rehab I will use a contractor for most or all of the work.