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I leave the marginal ones waiting, letting them know I will reach out when I have a showing date/time.At the showing, I collect their completed application (sent via PDF prior or filled out on premises), scan their photo ID and last 2 pay stubs.Then, I do some digging around online (social media, court records, Google) and if it looks like they are representing themselves to me accurately, I contact them and send them a link to do the background checks (paid by them directly to the vendor). 

My current goal is to transform my professional Excel budgeting tools into an AI-powered app to streamline day-to-day property management, particularly for financial operations.

Properly collecting these fees is a key part of financial success in real estate investment.And hey, why stop there?

@Denise Lang some copy & paste thoughts:TYPES OF RENTAL INVESTMENTSRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Best financial move I made. 

I suspect this lender was just one of the hundreds of crooks out there doing teh advance feescam.If your interested watch the American Greed episode on Remington financial they do a deep dive into these companies..

During the 2008 financial crash, low paid, low skilled workers were laid off in droves.

Was everything ok at the end or did it end you financially?

With the potential for a small financial loss on your end, litigation would certainly not be worth the hassle and expense.