My thoughts have been trying to figure out pitfalls of late fees, and how to bi-weekly could affect eviction if needed. 

The current mortgage is $1486 and it is being rented for $1600 with property management fee of 10% ($160).

You will want to decide what is most important: lower fees, quick processing time, proximity to you.

In some states the owner has the right to redeem, repay the amount sold for at auction plus some fees, for a certain amount of time After a tax auction.

. @ Al: With Zelle, can I charge late fees?

Also, I will respectfully disagree with a comment made above about HOA fees.

Full Price is the high bid plus $195.00 Transfer fee !"...

The refinance process is just like a new loan.Go to the lender and fill out the application, provide documentation they require and they will give you a sheet with the estimated fees for funding and closing.

I was wondering if I were to choose the $40.00 package would I be able to get away with charging a $40 application fee to interested renters or is that a little to steep?

I am sure I will make a few mistakes initially, so a small one is a good way to pay "school fees"...My experience in South Africa is mainly with apartments and multis, so I suppose this would be best suited.