You need to check your state landlord tenant laws as see what the maximum amount is that you can charge for a late fee is.. and what day the state considers a late fee applicable.How your lease is written for this may not mater if your not in compliance with state laws.Yes you "include late fee in eviction notice and on court paperwork. but it's listed just as that XXX late fee. 

Read the paperwork, ask even more questions, accept the responses with skepticism.

Now, the original owner of the property has what is essentially a second mortgage, So, he will have the option to foreclose from second position if you stop paying him as well.

And there was a black guy sitting in the chair to the right of the door looking at paper work. 

They never filed paperwork to retrieve any money, we actually did.  

Essentially the most flexible 203k loan I've ever heard of.

All of those reports will need to be ordered by the lender, so as not to create a conflict of interest.In terms of the contracts, unlike for the single family residential there is no set contract, however, there is significant paperwork requirement and various HUD applicable forms that need to be executed.The biggest pitfall is that an FHA transaction takes longer to close than a Portfolio, Fannie Mae or a Freddie deals, since due diligence is much more extensive in regards to you and the property.

Is there any additional paperwork regarding that?

Managing contractors and time lines is essential.

How much should I pay a realtor to do the paperwork only on a sale.