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.

Assuming that this auction was deposit only the day of auction, you could just not pay the balance.

I'm going to have the carpets cleaned for the new tenant - do landlords normally deduct the cost of cleaning the carpets from the security deposit?

There are NO rent credits.Requirements:Location = Any, it doesn't matter to us.Annual Cap Rate = 10% or higherAnnual Cash-on-Cash Return = 15% or higherLTV = 65% or LessProof of Funds = 10% Option Fee, Repair Cost & 6 months of Lease Payments**ONLY NON-Owner Occupied Properties**Fees:$2k - Loan origination Fee (included in Loan)$2k - Processing Fee (included in Loan)10% - Option fee (Paid at signing of Lease Option)5% - Increase in Option Sales Price from the Original Purchase Price2 Months Rent - Security Deposit (Paid at signing of Lease Option)What we need to evaluate a deal: Property Address Minimum of 5 exterior photos & 5 interior photos Purchase Price Market Rental Rate CMA from the MLS and from a Licensed Realtor.

That runs background checks on all potential tenants and make your you enforce a direct deposit and background checks. 

Also need Assignable Contract that states "1/2 deposit to investor (me) and balance to title company at closing".If anyone have that type of contracts, I would very much appreciate that.

Non-refundable pet deposit