Hi Everyone,Quick question on security deposits in Chicago. 

I know testing can be done, but in Denver many of the wholesalers require a $5K - $10K non-refundable deposit. 

New landlord here A little confused as far as where to put the deposit money from tenant , it seems that I cannot just put it to the business checking account it need to be some account that earns interest .

Our first strategy was to find a great foreclosure auction deal, go to auction prepared with our max bid after running ARV and wholesaling it shortly thereafter (using our own money for the deposit).

I'm not exactly sure by what you mean about "agreed upon responsibilities." if you are out of state and hiring a property manager, your only real responsibility should be approving of maintenance outside of the scope of your escrow account and making sure your rents are deposited on time according to your agreement.

Also how many wholesalers put up nonrefundable deposits?

i am writing up a new lease and want to put in a provision about early lease termination, losing security deposit etc.anyone has good wording, and good ideas?

A security deposit on a lease? 

You may lose your deposit. 

Security deposit amount and any other insite on topic?