I am ready to get my first rental property (already got pre-approval), and I also have 2 properties that I want to offer on (I did a fair amount of research on them).

If the loan is paid off in 6 months or under, the lender will get a big fine from Fannie Mae.

I've never paid a plumber to replace a water heater, don't know NJ prices.7.

I have an assignment Lease Option REI business and was wondering do other Lease Option assignment folks pre qualify their tenant buyers before you assign the lease option agreement and if so, exactly what process is used?

As far as the deposit, I had not yet paid it. 

I moved to Tampa, Florida but am still renting out my almost paid for house in New York and I'm loving the cash flow!

It's completely paid off and a Zillow search has it probably valued around $300k. 

I was considering paying the entire rent amount towards the mortgage anyway which would have me paid off in 7 years.

I currently receive a weekly report outlining both “pre” and “pending” foreclosures in my local area.

@Matthew Paul not likely, but had the seller paid for their own appraisal before listing the property and it came back higher than they thought, they could list it higher....