There is a big difference from a title company holding earnest money funds in a secured account vs an individual person holding those funds. 

The best way to secure the best deal is to have the most information, so a year of research, due diligence and immersion can certainly help. 

I am holding 1mo security deposit currently.So she paid OCT rent, and per the lease should pay NOV rent ($2k) + 1mo fee ($2k).I know she is just going to walk and not pay the additional rent or fee ($4k total)....why wouldn't she?

We get first and last plus security deposit up front.

It was a good asset as security to lend money How did you find this deal and how did you negotiate it?

I had alarm installed, got to know the owner of the alarm company, who rented a commercial property for his business at a very good price.

Waiting & saving more for down payment leaves me stuck renting my personal residence and potentially can't keep pace with market pricesI'm considering putting my rental purchase on hold and buying a personal residence first to secure my financial health but this still leaves me at square 1 with my investing journey.

@Eric OneillThink about putting most of the money in a TIPS etf (Treasury Inflation Protected Security)Look locally for a multi family you can buy and live in using the FHA do that for a year so you get a taste of what being an active investor is like.If you like it start looking for the next one if you hate being a landlord then maybe look for syndications you can invest in as a passive partner.

How to your analyze the deal and add some margin so you secure profit?

My question is; Are our text messages considered a contract even though it never outlined when rents were due or any other variables, other than when she could potentially move in and what the security deposits would be?