I have tenants interested in renting this building, they want to put down a  Security Deposit($750) and a Month of rent ($750). 

Inspections should be accompanied by lots of photographs so don't take peoples word that one was completed.I would be more worried about why there was no security deposit (bond) like you mentioned above?

Take as large a non-refundable deposit as possible - min $2.5k and finance the rest for 2-3yrs.The risk is they may not be able to pay and you may have to foreclose, but look into deed in lieu in the property's state.

I am in Columbus, Ohio and all winning bids require a significant deposit which makes me uncomfortable if I am unsure on title. 

It will cost you more in court if the tenant sues for deducting from the deposit. 

(You basically told your lender you were planning to change jobs shortly after closing...something they obviously don't like to hear).The first thing you probably need to do is negotiate an extension to your contract in order to (hopefully) avoid losing your deposit. 

2) all parties sign the m2m3) under all conditions, the security deposit will only be made available to the last resident who will be surrendering the keys.

Initially everyone would contribute $25K and then every month after each member will deposit $1,000.

I will allow up to two cats, but the tenant must pay an additional security deposit of $100 each.Proof of Income: I require paycheck stubs for the last month (at least two recent stubs).

All you did was put the deposit money to secure the lease/purchase contract.