Private owners are more generous with giving back security deposits, are less likely to raise rent, and free furniture is free furniture!

I would talk to a good securities attorney like @Jillian Sidoti to see what issue you may need to deal with. 

@Jim K.I still plan on using my life savings for the platinum level McRib coaching package. 

Whereas you would ordinarily indicate earnest money, down payment, financing and total purchase price... in an owner finance deal you would spell out the exact financing terms such as:Seller agrees to finance $x of the purchase price at y% interest over z years, secured by a first lien deed of trust.

I'd like to be better prepared the next time I approach a bank or lender about financing.I've heard several guests on the podcast discuss having a packet of some kind portfolio or package that they present to lenders when trying to acquire financing.

You will likely even have to get a secured credit card to kick start your credit.

Who gets to keep the security deposit money under an eviction?

The owner lives out of state and has secured a tenant for the property for the next year (lease expires August 2019). 

I would think that a person that meets a high standard would not have a problem coming up with security deposits.

It actually indicates that it is free for landlords - at least for the basic package.