No NON-QM broker or lender should be collecting upfront fees for processing.

My strategy as an investor has changed over the years, today I look at real estate more like a collection of properties and less through the cash flow lens.

Airbnb collects $ millions in garbage insurance premiums from guests but only rarely pays out anything.

What if they have collections or judgments?

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

It markets our properties, screens our tenants, collects our rent, deposits it into our bank accounts, has full accounting and reporting features, has a tenant facing web portal & app where tenants can log in and report maintenance issues and see their account, etc, for $2/door/month - but they have a $45 minimum monthly fee... so up until you cross 22 doors it would be $45.

REI is about collecting dollar$, not properties. 

The tenant will most likely talk nonsense and show the judge precisely who they are.Send the judgment to a collection agency, along with all supporting documentation.

It is much harder to find a 2nd lien lender on an investment property and, even if you do, they are going to have maximums on the collective loan to value between both liens.

So B2C is out, but perhaps B2B might be an option (e.g providing a streamlined solution for all of the major mortgage servicing companies for collection of payments.