I am willing to deposit any up front fees with an independent, third party of my choosing, however would recommend against providing IMN or any other firm with the dollars.

When purchasing the property, there was no security deposit.

I guess if they have security deposits… they won’t get mad and trash the place 🤔.

The sellers have counter offered asking for an additional $50,000 earnest money deposit after the inspection period.

Always get at least 1 full month's security deposit upfront.

Consideration (something of value changes hands - normally that's EMD /deposit). 

I negotiated it with all contingencies to protect myself and my deposit in case of any undisclosed material facts about the property.

Get as large a deposit as is legal, inspect more often.

In my state, calling something a deposit (pet deposit) is not the best option because the property owner needs to document pet damage to retain the pet deposit. 

Hi Brooke,my advice to you is if you already haven't started using the rental property calculator under the tool tab definitely start. 20k for a down payment is probably a fair number from the bank as you'll have your initial down payment, closing costs and deposit.