(this makes sense, a 4.625 yield compounded annually over 14 years on a $300 monthly deposit generates me about $20,300 of interest, I checked with a calculator like this one) Returns on my Roth IRA are (maybe) 7% per year.

Charge the full month, then give them back anything/prorated if they vacate before the end of month along with their security deposit. 

After 6 months into a 12 month lease he asked my p/m about the possibility of breaking his lease because he had to move back to Masachusetts, he was informed that if he had the property in  rent ready condition and allowed showings that once a qualified tenant was chosen to replace him that he would only be charged rent until the new tenants moved in and that he would get back his security deposit.

How do you handle security deposits for each new lease with rotating people in and out?  

I tried my local credit union that I use to deposit rent ($4800 month), but they did mostly GSE refinancing and wouldn't do a HELOC on investment property.

This will allow for me to put a lower deposit, as well as eliminate my rent payment.The thing I need the most help with would certainly be financing.

And your EM is not refundable or is at risk upon signing the contract.. now this would go very much against the grain of most wholeslaers who want weasel clauses but those that don't need weasel clauses and have the money for the deposits and proof of funds in the bank.. maybe they can advertise and flip  ????

Both places were rented at the time of closing with deposits and first month (May) paid at lease signing.

Hope it's not like going to the Casino and hitting it on your first slot roll. 

Jan. 11, 2004. 604.001, Business & Commerce Code, other than a card:(1) to which Chapter 604, Business & Commerce Code, does not apply by operation of Sections 604.002(1)(A) and (C) and 604.002(2)-(5) of that code; or(2) that is linked to and draws its value solely from a deposit account subject to Chapter 73.