Some charge half, 3/4 or a full months placement fee.

@Abdul Azeez, I think that the problem is that you are stacking the deck against yourself trying to do all of these things on your first deal:1) Purchasing the property from an online auction site / bank, which is notoriously tricky even for the experienced investor, due to their proprietary contracts and minimal due diligence period and strict deadlines.2) Working with a new contractor that you haven't used before, or seen their work before, and who may not be used to dealing with investors.3) Trying to get conventional financing on a property that has a short closing time and where the mechanical systems cannot be tested.4) Working on your first deal by yourself instead of partnering with a local investor who can guide you along, or at least a mentor who you can turn to with questions.My advice is to make it easier on yourself by considering buying a property with a standard contract and longer due diligence period, network with local investors who can provide you contractor contacts and also some guidance, and consider using private financing or hard money instead of bank financing.In my opinion, buying from the online auction sites is a more advanced strategy that you can use once you are able to ballpark construction costs yourself and/or you have a trusted contractor you've worked with before and/or you have private financing or hard money set up so you can close fast and/or you can purchase the property without interior access and hope to get lucky in terms of condition (but still buy at a price where you are comfortable doing a full rehab if necessary without losing much money) and/or you are familiar with agreement of sale contracts and closings in your state so you can assess the risks of using the bank's seller-friendly contract.You're already doing the right things by asking questions on this forum, and taking action.  

HI Mohan,If your new job is in the same industry that you've worked consistently in the past two years or you just left school and are going into a full time salary job you can use schooling as employment history then you can use the stable aspects of this income going into this qualification.

Make sure to check out the Bigger Pockets Blog: https://www.biggerpockets.com/renewsblog/It is full of great information.

Make sure to check out the Bigger Pockets Blog: https://www.biggerpockets.com/renewsblog/It is full of great information.

The seller must give you written notice before starting a forfeiture action, and you would then have 10 days to completely perform your contract obligations, including payment of the full remaining balance of the purchase price.

Make sure to check out the Bigger Pockets Blog: https://www.biggerpockets.com/renewsblog/It is full of great information

FIRST - YOU need to have just a few of my credentials - 74 years old - in real estate and development for 48 years - a Mason - auctioneer and full time investor.If it is OK with you - this is how we'll work - I will give you instruction on how to develop real estate leads - the leads call me or you - I interview the lead and determine from their answers if their property has any EQUITY.

The area around Montana Tech is nice, but be careful when a landlord presents you with his CAP rate calculations, as they stuff those tiny houses full of college kids. 

You are asking for a world full of trouble.