Loan amount $253,600.The 3 biggest items are:Title Services and Lender's Title Insurance = $4,148Transfer Taxes = $2377.50Initial deposit of Escrow = $850.00The the taxes and escrow seem fine, but what about title services?  

If it were me, I would (at the very least) require a non-refundable pet deposit and up the rent by about $30/month.

But in all reality it didn’t cost a penny… After the presentation I would take the money back to the bank and deposit it..

Since turning 18 I always knew I wanted to buy a house and at that point only knew for that you needed money... lots of money.So I spent the next 3-4 years in limbo, not knowing what career path to take so I just worked with the goal of saving for a 20% deposit.

First months rent check has been deposited!

First, process which could be explained in these simple steps:Step 1: Market to motivated sellers Step 2: Sign purchase contract with the seller Step 3: Find cash buyerStep 4: Sign contract with cash buyer for a higher price and collect 2k deposit Step5: Close Transaction via Assignment or Double Closing and Collect your checkSecond, learn has much as possible about the 5 skills needed to be a Pro at wholesaling.

Can you get the other guy to sign a release stating that he has gone and relinquishing the deposit to the cousin?

The letter would state the terms of the lease - monthly rent, lease end date, security deposit, and any special terms (e.g., last month is free.)  

High fees, they got tenants in there that trashed the place, and they didn't get security deposits for any of them because "their parents co-signed".  

And then there's the email from one tenant who said they moved to another state.Change the locks and move on.Unfortunately, the cleanup costs associated with this will probably be much more than their security deposit.