During further investigating I found online the homeowner matching the out of state plates to this person as well.

I'm curious what animals you allow in your properties, guys, and do you charge non-refundable deposits or any type of fees?

There were several aspects of the home (including entire rooms) that had not been mentioned in the listing and that made it a great match (and a great deal) for us.

There were several aspects of the home (including entire rooms) that had not been mentioned in the listing and that made it a great match (and a great deal) for us.How did you finance this deal?

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

How do you suggest I present the deposit & rent increase to the current tenants??

Yes, that's enough of a deposit to borrow another say $150k (unless you're really gung ho and want a ~95% primary mortgage), but then that brings into focus your DTI as it relates to how much income you'll derive out of your newly refinanced ~$335k investment loan - together with your yet-to-be-approved hefty new primary mortgage debt.For your sake, I hope you already have very good assured income. 

Most wholesalers require $5000 non-refundable deposit paid directly to them. 

Seems they had put a deposit down on a rental, showed up with a U-Haul and found the person claiming to rent it was a scammer. 

I was listening to a podcast from biggerpockets and heard the phrase earnest money deposit and I was just wondering what exactly that is?