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

Be sure the # of beds on the voucher match the property.

You could keep doing what you're doing and be just fine . . . if that matches your goals.

With the execution of a new 1-year lease and placement of a security deposit by the new tenant PLUS a pristine final walk-through of the property, you will allow her out of the lease. 

Here's the verbiage for any of you who do them regularly.Thank youBuyer's Premium: Greater of 5.0% of bid amount, or $1,000 (Buyer pays at closing) CASH Earnest Money Deposit: Lesser of 3.0% of bid amount, or $15,000.

He is in deep kimchi....However if (as I suspect) there were verbal COs and the contract does not match the plans, Etc, Etc.... then you are in trouble.

(and current Zillow est matches the appraisal)I know people always say there's a housing bubble brewing, but the state of forbearance and eviction moratoriums has also crept into my fear state.

I try to match the quality with the rest of the rental.

We have had some really mixed experiences this year with inconsiderate guests, and we have been playing around with the deposit vs insurance. 

My partners and I just wired the earnest money deposit to the title company.