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

They read all the books where they are told to keep the contractor on a short leash , buy the materials , manage the job , dont pay deposits , have the contractor sign your contract .

Also greatly important are quality contractors at great prices who won't disappear with your 50% deposit.

Deposits are not classified as income.

My list includes - last 2 years employment history and current employment [2 paystubs], criminal checks, eviction checks, No Pets, No smoking, tenant pays utilities, maintains landscape, no subleasing, bring own washer & dryer, 1 month security deposit and transfer of utilities before moving in, rental insurance, all occupants will be on lease, notice period of 2 months for termination, tenant references, No cosigners, no painting walls, late fee notice, any hoa fines should be paid by tenant, inspection of property at 3, 9 and 12 months.Please let me know if I am missing anything.3.

CfD is a legal contract between you and a buyer (aka your tenant) that states for $x down (secuirty deposit) and $x a month (monthly rent) for x months, they can live in the home.

I want to understand what are my options to collect tenants deposits and one month rent. 

It sounds like there are five strategies, and the first one is essentially inserting yourself into a deal by providing the funds for an earnest money deposit for someone like a wholesaler.

For example an Uber driver might show $4k per month in deposits, BUT that doesn't factor in their EXPENSES such as fuel and maintenance which might be $1k per month.

Double deposit.