Thanks in advance 

PS: If you take a stroll through the Reddit boards, you will see a boatload of unhappy investors, who are reporting many of the funds have frozen dividends, increased escrow and capital calls and management fees.

Thank you in advance.

You may not collect anything, but it will sit on his credit report and prevent him from getting a car loan, home loan, or scamming another landlord.

The rates are higher and points +++ plus prepay for a commercial loan or hard money loan.Loans closed in America are reported and stats are available as to who closed, how many, loan officer, dollar amount, loan type, location and more detail.

The reports are 40-90 pages long and go through the entire house in great detail.Get an appraisal.

There are rental management tools like Stessa, Baselane, Innago, and many others that include income/expense tracking that handles all the accounting tasks and reporting you really need for rentals. 

Report him to your local licensing boards as well as make police reports, even if not a realtor he will get large fines and potentially criminal charges. 

Thanks in advance.

closing cost are paid out of escrow at the time of closing not in advance other than maybe an appraisl paid to 3p and a small app fee like 50 to 200 bucks  like Lending home.. which is real.