@Wesley Tripp"pre-foreclosure" is more of a Zillow-type term. 

Types of fees:Application fees:  Above info is spot on, the only advice I would give is that higher fees means less applicants (we decided not to charge at all when we self managed, it did not add up to very much each year) and if it is non-refundable there are likely tenant-landlord laws about what you have to disclose about your criteria before they apply.Late rent: If rent is late, there is an exra fee. 

Then I would identify what type of real estate you want to go into, and that you feel comfortable with.

The repairs needed are estimated at 80k (this is a high estimate to allow the investor to chose roof type and other contractors in the area for some other repairs needed).

What each of the aforementioned strategies may accomplish in order to reach this aim is briefly summarized here:Fix and Flips: Your initial capital could serve as a down payment and renovation fund for a single property to start.

What made you interested in investing in this type of deal?

There are a ton of local banks around me that offer owner occupied low downpayment loans but are portfolio lenders for these types of products meaning they hold the loan in house.

It is listed on AirBnB and Furnished Finder - https://www.furnishedfinder.com/property/584674_1What made you interested in investing in this type of deal?

So, this serves my goal to grow & diversify my portfolio while earning great tax benefits.4) I am in a strong financial position where I could qualify to buy multiple and have adequate reserves to maintain the properties long term and cover any potential negative cash flow during the time I own them.

If you look on AirDNA, you can see similar types of homes that can earn upwards of $35k-$50k/year in revenue on Airbnb.