First mistake, provided a free incentive to please and secure your tenant, you should always stick to the rules, you must charge accordingly, always enforce pro-rated terms, if/as stated in your contract ease terms.I always like to say that an exception, quickly extends into the rule (As a general rule of thing, we absolutely do not bend on any rule and enforce every element (within reason))Another view is that if you are the individual, the owner, the landlord, the point of communication, it is more difficult to distance yourself from the emotional element, sometimes the emotional attachment to the asset, will shut down your business side of thinking for a brief weak moment, you must restrain from that.

I am only looking to facilitate the transaction, bringing the tenant buyer and landlord seller together.In my state a lessor can only collect at most first, last and a security not to exceed first months rent. 

I've herd you should get the property under contract first but what happens if I get it under contract and can't secure the hard money?

My concern is with the SEC and securities laws.  

You will have to hope the security deposit is sufficient.If the tenant leaves during the lease period, the government will pay only until the end of the month that they left.  

For about $600 a year I secured a surety bond for the deposits.

Did a 1031 exchange on another property to increase cash flow and secured a sizable line of credit on properties with large equity to buy more deals. 

That note would be secured by real estate and in my opinion is much safer than a stock, or risky bond.

The landlord and tenant may verbally come to some agreement other than what was in the lease.You should also have gotten the tenant security deposits at settlement from the former landlord.

We're offering discounted rent, no security deposit and no last months rent to the employee so we can get them housed.