I see it time and time where a borrower tries to save on points, they go direct and end up falling out.

They will have relationships with creditors, or at the very least, know exactly what the creditor's parameters for settlement are. 

Hi MTR community,We regularly work with local companies to find MTR tenants, but up until now the tenant has always signed the lease, received a per diem, and paid us directly.

Quote from @Isla Arshad: An example would be $300 non-refundable fee up front and $50 per month.

My understanding is that most lenders will file a mortgage lien on the subject property as soon as the loan is signed so as to preserve their rights, but what if the lender did not do so before the borrower defaulted?

Hi Yixiong-Congrats on building up your portfolio!

I want to have the capacity to terminate their lease if needed.Is that lease valid?

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Thank you for the idea!

@Daniel Cullen - we just recorded a Straight Up Chicago Investor Podcast with an investor who did his first househack in Blue Island.