If it doesn't match your taxes, there is a problem.

No biggie, but the second buyers walked when they saw the HUD statement, realizing they were paying too much, so my buyer was scrambling to find new buyer.He refused to cancel contract even to get his deposit back and several days later attorney wrote letter threatening to sue to compel enforcement of contract, which they did after changing title companies.

If the owner is cash strapped maybe that deposit up front could sway them and you’d avoid the high interest of a HML with the same up front costs. 

Some of these cards were 0% on just purchases, and some of them had balance transfer checks that could be deposited into the account and then wired as my portion of the down payment on a property.  

If the check doesn't come back clean, I'd keep the deposit and find another tenant.Make sure the lease states that they are both responsible for the rent should they split up. 

Do you charge a full months rent for security deposit? 

I came quite correct by being someone interested in investing in Ohio and being inquisitive. 1 more point goes to Columbus now - haha - great match so far

For instance in certain cities in and around Cleveland OH  there is what is called POS .. and when properties change hands the municipality does an inspection and requires a large sometimes very large deposit from the buyer with a laundry list of things that must be addressed  ( although most of it U would normally do in a rehab.) but you have to put the money up AND you have to complete the work to get your deposit back.. so in essence you need enough cash to rehab twice.. :(   So implementing this in many markets will not be difficult. 

Rent Roll with specific dwelling number, name of resident, move-in date, monthly rent, amount of deposit held, current balance, additional charges, number of occupants, and a brief history of the resident (good resident / bad resident, special circumstances, etc.)

For example what type of account should I open to hold my tenants first, last and deposit, etc?