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?

Current lease and security deposit was requested but the seller's attorney says that it is month to month with no lease and no security deposit, they are offering an estoppel letter from the tenant.

However, I will accept high-risk tenants if they pay an increased security deposit or a risk mitigation fee (non-refundable).In my experience, people with bad credit are bad tenants.