The 4th unit the tenant pays late every month and has accrued a lot in late fees (previously owners charging $5/day in late charges).

In my case, they will install the meters for a fee, and I pay a plumber to connect.

I have 2 choices: 1) Pony up the $3,000 out of MY pocket to get the job done (I don't need to bring this money to closing, but I do need to demonstrate to the HML lender that I have the funds to make it happen), or 2) Simply adjust my budget down by $3k.Let's say that the lender charges the following:3% origination fee ($65K *.03) = $1,950Appraisal Fee - $500 Pro-rated Interest (one month) - $380 Title Search / Title Insurance - $175 Pro-rated Property Ins. - $100 Pro-Rated Taxes - $400 Settlement Fees - $400 Recording Fees - $100 Wholesale fees (if applicable) - $500 Since "No Money Down" is not an option, I'll will need to pay these fees up-front in order to get my $65,000.

Higher HOA fees can kill cash flow but for building equity and having a place to launch from, here might be a good fit. 

I'm sure they have some broker fees not shown, but still probably less margin than I can opperate at. 

It seems several apartment owners are hidden behind LLC's or other corporate entities.

Rent is due on the first, and an automatic $50 late fee kicks in at 12:01 on the 2nd.

I received all the docs from my mortgage broker with the cash out estimate at 49K ....closing costs were at 5K which includes all fees.

Motion sensor lights, and a hidden 'trail cam' can do wonders in catching the prey. 

Yes the option fee would be applied to the sale price at the time of sale.