It’s a real hodgepodge of applicable regs.  

Watching the housing market you want to buy in and knowing the areas you want to buy and having the data to give you confidence to make a quick offer will get you a solid deal.

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.

Watch out for any debt you had on your SFR.  

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.

Hello I have been watching a lot of bigger pockets podcasts.

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.

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

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.

As for Nolo, is it applicable in all states?