They should be reported to the real estate commission in your state every single time because they are ripping equity from people while pretending to be a fiduciary.

Appraised at 255,500 and my credit score is around 780-when pulled I think it came around 760, but a reverse late payment that was reported (now resolve bc it was incorrect) my score went back to the original score.

@Matthew Wright you're going to have a hard time doing this.Currently, you are bypassing a LOT of regulation requirements by letting the prospects pay the 3rd party directly.If you want to collect Application Fees, you will need to take on all the responsibilities & corresponding liabilities of Fair Credit Reporting Act and Data Privacy regulations. 

A call to the Planning Dept revealed this 'minor' inconvenience.

At HIS Capital, we collect payment for third-party services such as appraisals, background checks, and credit reports.

Historically, real estate appreciates 3% - 4% annually.It may be possible, that an area like Austin will appreciate more.Austin, TX, from my understanding had many years of crazy appreciation and recent years of negative appreciation.There are also a lot of reports that Austin, TX has a lot of new rental supply that came and is coming into the market.What is your required return from an investment?

I have MLO and am registered but Not currently active but I keep up on CE each year so I can activate if I need to.. the main issue for me as an independent is the NMLS mortgage call report is so darn time consuming and intrusive..

I'm happy to report that this approach has been working out great!

That would clarify what you are trying to achieve.LLC with a good operating agreement.SyndicationREIT fundEach one has an increasing level of complexity and reporting requirements 

They said they won’t report on something that old.