If you're located in WI, check out Premier Point Realty and Homestead Realty....both offer the licensing course at a discount and some of the lowest fees/commission splits in our local market.

This may result in late fees and eventual eviction if not cured within the legally provided time. 

Basically you find these distressed properties in pre foreclosure, probates, divorces, or just ugly vacant properties. then you calculate the Max allowable offer and if it makes sense you call up the property owner, get it under contract for dirt cheap, then you assign the contract to a cash investor for an assignment fee. this is the general idea obviously it gets more in depth, but its finding deals that you would buy as a fix and flip or brrrr, and instead of actually buying it you sell it to other investors.Ahh I see, thanks for clearing that up.  

The fee to submit an application is $600.00.

Because it is an investment property, you would pay all fees, including appraisal.

Once you pay realtor fees, closing costs, sellers want 10k for points and concessions.

However, in California, each LLC incurs an $800 annual franchise tax plus gross receipts fees if revenue exceeds $250,000, and property insurance may cost more.

Are you not charging the guests a cleaning fee?

The Board already spends funds on things owners disagree on, such as expensive vendor contracts where a Board member gets a referral fee or is part of the contract.

They're cheap to purchase/install too.