Lower max deposit amounts can disincentive tenants from taking care of the unit.  

To offset the $3100, we were able to collect about $700 from the security deposit.

Dear Beneficiary,I wish to inform you that your compensation and settlement funds/payment total sum of $8.5 million dollars has been deposited in this bank by the United Nations and the Africa's Fund settlement Committee (AFSC), we have been instructed to release this funds to you as soon as possible and after our meeting today we have agreed to pay you via online bank transfer by opening an offshore account in your name in this bank, after that we will credit your total funds into your offshore account and send the login details to you.Get back to us as soon as possible for the offshore account opening form.Kind RegardsMr.

For example I have an account for each property and a sub-account just for the security deposits for those properties.

Quote from @Maya Jones: You should get something agreed upon for the tenants living and the remaining rent/security deposit if there is something changing from the existing lease. 

That said, I have clear pet policies to help minimize the damage and collect a pet deposit.

Check stubs, Account statements (showing deposits), and any tax documents would be best for proof of income.I haven't heard of anyone accepting a tenant based on written statements from financial advisors, I don't think this would be sufficient.

Therefore, even if allowed in your state, update your lease to specify that this payment is considered "pre-paid rent," not a security deposit (which has cap/restrictive laws separate from those mentioned).

How much do you charge for a security deposit?

Did you deposit the reserve money with someone else??