There is a big difference from a title company holding earnest money funds in a secured account vs an individual person holding those funds. 

The best way to secure the best deal is to have the most information, so a year of research, due diligence and immersion can certainly help. 

I am holding 1mo security deposit currently.So she paid OCT rent, and per the lease should pay NOV rent ($2k) + 1mo fee ($2k).I know she is just going to walk and not pay the additional rent or fee ($4k total)....why wouldn't she?

We get first and last plus security deposit up front.

It was a good asset as security to lend money How did you find this deal and how did you negotiate it?

Waiting & saving more for down payment leaves me stuck renting my personal residence and potentially can't keep pace with market pricesI'm considering putting my rental purchase on hold and buying a personal residence first to secure my financial health but this still leaves me at square 1 with my investing journey.

@Eric OneillThink about putting most of the money in a TIPS etf (Treasury Inflation Protected Security)Look locally for a multi family you can buy and live in using the FHA do that for a year so you get a taste of what being an active investor is like.If you like it start looking for the next one if you hate being a landlord then maybe look for syndications you can invest in as a passive partner.

How to your analyze the deal and add some margin so you secure profit?

My question is; Are our text messages considered a contract even though it never outlined when rents were due or any other variables, other than when she could potentially move in and what the security deposits would be?

All of the above, for present autonomy and future security.