EEM deposit on its face is not equitable interest.. 

Will a deposit be collected?

Many lenders will also want to see that the security deposit has cleared into your account.

My question is should I let me know tenant know that I closed my bank account where he does direct deposits to?

If it was already rented you could get the security deposit from the seller toward the purchase.

You should put a tight schedule on them putting the financing commitment in place, and have a non-refundable deposit if they stretch that out too long, but you should not care what they are doing with it. 

I didn't have that clause in my lease before I read that...Your lease should convey pertinent information, like how much the rent is, when it's due, the amount of deposit.

., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

Money is direct deposited into her account actually through her company.

The main difference is that instead of flipping it for the profit you COULD make, you would be borrowing against your added equity in order to get all your deposit back - to Repeat, Repeat, Repeat...