You want to make sure if you are billing back the tenant in a sfh that you get a deposit for water or you'll be holding the bag when they move.

As far as backing out yes you can request your Escrow deposit back during the inspection period for any reason you deem fit, many individuals will say it is a free look however professionally that not the best description since it is not free, with any due diligence you invest in inspections and other professional services to answer as many unknowns as possible to remove as much risk as you can prior to purchase.

I really wanted to make my house to be done soon, so I transferred him $3,000 deposit as part of our agreement - the first payment.

The estimated income would be $1,250/mo for each slot and there are 6 slots each side so fully rented it should be $15k/mo shooting high I’m looking for any advice that I should know.

My layman impression is that if both of those points are true, you get contact info on the heirs, update your files, and continue to deposit checks.If they are not paying, the key is to find out who the executor is.

Your deposit is normally non-refundable.It is ALWAYS suggested to get your financing in order BEFORE you make an offer. 

I have the same mentality, in this case the tenant has no lease nor does she have a deposit in place from when I took over the property.

I have currently been looking over several purchase and sale agreements used for wholesale deals, and I wanted to ask if anyone knows if the seller holds the funds for the earnest money deposit; for the property under contract, or is it given to a third party until the deal is closed? 

It’s Friday and the seller now says the person not paying utilities is ‘supposed to be out Monday’ as they don’t pay rent, no deposit or other.

That amount is equivalent to the security deposit in our case.