A bit of rewording on your lease should cover you, but even with the current wording, it implies that the deposit is provided before the lease is signed"Roommate has to deliver to Landlord a deposit in the amount of seven hundred fifty dollars ($750) ("Initial Deposit") before move-in.

However, it does not provide the same coverage as homeowners insurance, which provides financial protection in case of damage to personal property, disaster or accident such as fire damage or theft.  

Can you provide a few more details like Size, zoning, general area, etc? 

Insurance programs or discounts provided by one company to the members of a specific organization (ie. trade group, alumni group, company employees, etc..)2.

As a landlord, do I have to provide as part of the lease the entire 6 acres of my mom's land to a renter since that is part of the property of the houseand cannot be subdivided? 

Unfortunately, this means that I have to let this deal go, but it made me come up with a couple of questions about this situation:Does anyone have experience in partnerships where one partner's only real requirement is to sit on the loan and potentially provide interest payments when needed during the duration of the construction? 

Our offer was accepted and we provided a nonrefundable $1k deposit , 10-day close.

While I still suggest you get an Attorney to handle it, they can provide you with the Notice of Trustee Sale and a scrip to read at the Auction as these do no vary by countyYou can also go to the  Aransas County Clerk's office website or any other Texas county for that matter  and print a Notice and tailor it to your property. 

Secondly, transparency is key—ensure the lender provides clear information about all fees and costs involved line by line.

i don't do/invest in residential real estate but perhaps it would be possible to learn SFR by getting job in property management, also get RE agent license, then once you have learned a fair bit, form a syndication with yourself as GP, get your college friends, their families, and anyone you know to invest as limited partners, then buy a rental house for cash, and you take 20-25% equity and provide the property management for a % of the rent, whatever is industry standard.