My concern is that if I can't line up another buyer and I have to get my deposit back and terminate the contract, can I get sued for false advertisement or something like that?

Maryland law allows the contractor to get 33% as a deposit when a contract is signed.  

Of course I know their security deposit can be used to rectify interior situations if need be but this wasn't a "bring a dog if you feel like it and I won't charge extra" lease!

. -- chart of accounts is just the starting point-- rent roll-- tenant - invoice, statement, payments, credits, recurring rent - advance-- security deposits -- work orders - completed, tenant's call, --lease expiration -- email's - has also a mini CRM build in--as to owners - summary and detail, reserve funds, -- Get reports for everything you enter... create pdf or export to excel .

I was cut a check for the tenants deposit.

$XXXX is paid herewith as a deposit to bind this offerB.)

If you buy it, the best is to put a larger deposit down and tell the seller you want it vacant upon closing. 

I think it depends on how they are depositing the rent.

Most folks are depositing claimant checks in their bank accounts using a POA,   I spoke to one Assistant Manager here in Cali and she stated that they would not accept a check  that was not endorse to me. 

I am 20 year old so not sure if I have to be a certain age or have enough funds to deposit into my account.