I'm a tad bit confused on how I should handle fixing my credit so I can take out a loan to purchase my first house.

Michael,I would guess that was the current owner's way of handling the late fee. 

I really think the answer requires more information but I will share with you how I handle this.

- TomI was planning to try and negotiate for cash back on closing to handle some of the rehab costs. 

Just want to also clarify that using equity in your current home is great to purchase other properties but remember that it shouldn't add a burden you can't handle or you run the risk of losing both.

Smaller communities may be faster OR slower, depending on staffing and the actual amount of recordings they can handle.  

What is the best way to handle this?

(all payments are being handled by the a licensed servicing company) This is beginning our forbearance period.  

I can see how a high application fee can be perceived as a waste of money to applicants if the property manager accepts multiple applications and would simply provide additional income to the property manager or Realtor handling the transaction.In an ideal world, you would want to have all of the information for all applicants immediately and at little or no cost to the applicant in order to have the largest pool of applicants to choose from.To do this, I usually will just check public records and also for proof of income.  

Hey Gabriel, the $2k is an estimate for handling the paperwork and minor repairs needed; I have yet to see a situation where a motivated seller of a multifamily property has gotten rid of a property that needed next to nothing but maybe this deal is one of those.