If they return the rental empty with no damages, you'll hand them the deposit on the spot and part ways.

Your job sits where the new purchase is owner occupied, you have a lease and deposit for the old house, you are going up in value. 

Or do I have to let that fall under the security deposit forfeiture conditions?

@Ethan ErazoHiIt all depends..that could be so however your initial Purchase & Sale Agreement has a minimal investment from you in the form of a earnest money deposit USD10-USD100.That is your equitable interest in the property which you then assign to the cash buyer for a fee.That fee could have a balance that will be paid at closing to youThere are numerous articles and podcasts on wholesaling to listen to on BP...use them

Not only is the price a lot more than the original estimate but the vendor is requesting a 50% deposit.

Whatever you do, don't give back any of the deposit while the lease is still active.

. - Have enough (take home after tax pure cash flow) from my properties to match my current w2 net income ( which roughly 7500$ to $11000 monthly)- Not create a lifestyle where I am so immersed in my real estate investments that I cannot enjoy life.

For the property I purchased in my personal name, do I need to deposit the rental income into my personal account or can I deposit it into my business account? 

MLS is not the best place to find deals, although I have purchased form the MLS and done well but my situation and location (and abilities) are not matched throughout the country.

I'm looking into purchasing an investment property from Lennar and they are requesting an escrow deposit of 5% of the sale price.