There have been numerous people on BP talking about how they paid application fees but they could never get their loans closed on any deal brought to the company.

These platforms typically have billing policies where you pay a per unit fee per month to the software and you get regular updates and support each month.There are a number of low-cost platforms available that are able to offer you a lower price by passing along some of the costs to your tenants (payment processing fees, applications, tenant screening, etc).

Legitimate lenders may charge a small application fee (around $250) to verify you’re serious, but if someone’s asking for thousands with no real intention of closing, that’s a huge red flag.On a more positive note, there are creative financing approaches out there.

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

I sent an invite to a prospective applicant that qualified and Looked high and low for the invite form with some additional notes to the applicant only to find out that it is not even on the platform at all, anywhere but in an email confirmation I received.

.: The applicant needs a social security number or an individual tax ID number (ITIN).

I know property managers in every state who use non-refundable application fees and it is the standard for every class of property and applicant.

Again, this is with commercial/investment property; owner occupied or consumer loans may have legal issues rendering this technique non applicable.  

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Secondly, the homeowner would need to cooperate as she would need to submit a bunch of paperwork including income statements, tax returns, etc. for the Short Sale application to show that she is insolvent.