There is no way that these people meet all these requirements and tips on how to screen out the unqualified people?

Yes you can pay the agent, actually their broker not the agent directly, any fee whether it's a % or a flat fee, for helping you, reviewing doc.s, etc.

I would ask the realtor to take a reduced commission of 3% instead of 6% if the tenant buys and they can handle both ends of the deal or possibly just do it for a flat fee.

Additionally, the supply of REO's/SS's has been no less than flat.

We signed up with a company that includes: tenant screening (criminal check and credit check) online application process, and marketing, for a very nominal fee.

Collect their application fees and screen them against your written criteria.

How do you keep the costs under control, do good screening, and not lose valid leads, all at the same time?

Use the "People to Know" search function on the right side of your screen and look for investors that live near you and connect with them.Welcome aboard.

If #1 is a brick townhouse or single story style with a shingle roof in good condition (for example) then it might be a better buy than a painted wood, flat tar-roofed bldg with apartments that are over/under. or if one has separately metered everything, and the other doesn't.That sort of stuff can make a big difference that doesn't show up immediately in the math

I live in New York where the property rates are high, not sure where I fit in as a newbie and with these flat pockets.