Charge a pet deposit.3.

In fact I have to give a deposit to turn on water.

Here's the situation:  Tenant moved out and was adamant about receiving the full security deposit back. 

Having them give you the money to deposit into your account would not be a good idea. 

They ran my credit to see if I would be required to leave a deposit before they could turn on service.

There is also the risk of a tenant causing damage greater than a years worth of rent and security deposit. 

Make sure you also understand how your utilities are setup, weather deposits will need to be paid, or transferable from previous owner.

The agent may also ask for sizable earnest money deposit and POF.  

Deposit of one months rent has been paid.

High balance loans are in an entirely different ballpark than conforming and when you get into investment properties at that level...well, forget the ballpark, now you're talking about an entirely different sport.Just some two cents on coming up with assets for your down payment: Fannie Mae requires proof of source of funds if the deposit is made to your bank account within the past two months.