Nowadays you have to do deposits on each property you want to bid upon. 

If you are looking to strengthen your offer consider above market rents, a higher deposit, and taking on some of the maintenance and repairs.  

@Bailey A.I never do a "move out inspection" with the tenant present because (1) landlord is under no legal obligation to do a "move out inspection" with the tenant, (2) it usually takes landlord a few weeks to determine what is in need of repair and whether the cost to repair can be charged against the tenant's deposit, (3) if the tenant is present at the "move out inspection" he will probably nit pick, second guess, whine and deny responsibility, or try to negotiate the cost of repairs, etc. 

The buyer paid $55K in earnest deposit in an escrow account held by the real estate agent4.

Also, why would I need cash for anything besides the earnest money deposit?

I feel that is reasonable.What does your contractor usually provide you for work plan prior to starting/deposit?

Pet Deposit: I like the non-refundable deposit, plus the monthly "pet rent" income.

Seems new laws indicate no pet rent or pet deposit would be allowed??

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

A refundable pet deposit of $250 per dog/cat seems reasonable along with $25 pet rent for any pet less than 50lbs and $50 per month for anything larger.