They make money off of the fees going in.

Overthinking doesn’t make you money.

I also updated our initial contact letter to explain that it's in their best interest for us to do the pre-qualification so inquiries don't waste time or money driving out to the property and/or completing an application when they won't qualify anyway.

If so, this could be utilized for a eviction due to them violating the lease.Nonetheless definitely get an eviction attorney involved, it is well worth the money.

This practice also frees up more money for lenders to use to fund additional mortgages.In "non-conforming loan" world, anything goes.

But I do Fix and flip and buy and hold and when I go about purchasing if its any kind of rehab to be done I use hard money.

If you don't you will lose a lot of money with evictions, lost payments, and vacancy.

For a true investment property, you'll be lucky to make a 10% IRR...so it would probably be better to invest that money in a 401k or 403b instead.

I also just go done taking a Alan Cowgill course on raising money to help fund my deals.

I really need to get my money back or pursue legal measures against BiggerPockets .Please advice  Sorry for the inconvenience.