Requests for loans come in through our interactive loan application accessed on our website4.

And the holding deposit will be returned only in the event that I reject their application. 

I am in Milwaukee, WI and I use the WLB lease format to sign fixed-term yearly leases with my tenants. Additionally, I have a "Notice to Vacate" section in my non-standard rental provisions indicating that tenant and ...

The loans are underwritten based on current / projected rental income for the property and the applicants credit history. 

It appears to just be a LARGE application fee?

Property taxation classification doesn't change the property type and applicable comps.

Also, define how you'll share the acquisition costs, such as the down payment, renovation, and closing costs.Payment Responsibilities: Explain how to divide and pay for regular costs like mortgage, property taxes, insurance, homeowners association fees (if applicable), and upkeep expenses.Management and Maintenance: Agree on how property maintenance, repairs, and improvements will be handled, including decision-making processes, funding for these activities, and responsibilities for performing or managing the work.Single Decision Point: For example, I've seen situations where one person agreed to replace an appliance while another strongly opposed it.

The Applicant doesn't respond and so we sent a message asking if they would like to cancel the lease.  

Did you properly screen your applicant?

We just listed a single family for $2,450 two days ago, which is pretty high for us and no shortage of applications.