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. 

First lesson I've learned, until I get a better handle on all of this I need to split up my marketing.  

Mike Nordwall at Riverland Title handled it (assignment of contract) It went pretty smooth, I'd recommend them. 

I've googled attorneys in my area and while there are some that say they handle real estate, I've wondered if that's the same as a real estate investment attorney. 

We didn't ramp up as fast or as much as you plan to, we hit the level we could handle to self manage in our free time.  

Title company closing agent handles the closing.I should add they will also double close and assign here.

We started in July 2014 w/ 1000 letters, we spread them out over 2 months to handle the learning curve of fielding the calls, negotiating and just the process in general. 

Make sure you can handle the complexity and scope at your price point.Talk to some neighbors about area rents to double check.  

If they have your information and criteria at hand, they can handle that as a pocket listing, which means they get the entire commission.The other tricks you can get all over BP.