Within 3 days after the effective date, I have to place about 1.25% of the purchase price in escrow as a deposit.

Would the original renters still have to forfeit their deposit or any other money?

Collect either the full assignment fee or a non-refundable $2,000 deposit.

If its so slow that you cannot get another tenant sooner, do a hold deposit. 

At your age, you might find creative ways to "house hack" and also to save for your first deposit. 

They are MTM with no written lease and no security deposit.

After I put in the address, rent, and security deposit (and my CC details), it sent out an email to my tenant to accept the screening request and allow TransUnion to release the information to me. 

We could rent it out with a deposit from the prospective renter and purchase the new home with and FHA 3.5% down or conventional Loan at 3% down with mortgage insurance.

I would not invest in that property.Rent - debt repayment - expenses = cash flow$850 - $432 - $425 (50%) = (7)In addition you need to pay yourself an additional $42/ month as a minimum 5% return on the $10,000 deposit.

I was listening to a Sean Terry Podcast and in it he says he rarely if ever give earnest money deposit when doing a deal.