I have multiple applicants that have applied. 2 look promising but both want to wait a month to  move in.

We host one in Alexandria, VA every month! 

That’s without my labor, I finished in 8 month, so let’s say 40 hours, at my minimun I used to charge was $75 and hour.

Overall, you're spending $25k in extra costs and a monthly pmt that's $500 higher to keep $50k in your bank account. 

Hey Daniel, you can use a platform like Avail that will give you all the info you need to know like:-Credit score- criminal record-eviction historyYou will also need to gather their:SSNIDPaystubs and 3 months bank statementsat least 2 past landlord references.If all the above check out, you likely have a great tenant.

lol, bro, he's been involved in an attempted murder twice in the last 6 months.

It'll likely take a month or two assuming that the loan is with one of the large servicing companies that move at a glacial pace. 

Fix it before the next month.

Essentially, it was one account with the bank tracking individual tenant details on your behalf.That said, it’s critical to ensure your financial records remain accurate by reconciling the account on a monthly basis.

They usually have a step down on that penalty like 3% year one, 2% year two, 1% year three and so on and so forth.So if you are buying a deal with the intention of rapidly increasing it's value in less than 24 months in order to refinance it and pull your cash out, you might want to go with a credit union for the acquisition financing because FCUs are barred from charging pre payment penalties.I could talk about this for hours about all the nuances but my fingers don't type that fast lol