How do you work out the handling of contracts and fees between the two of us?

How do you work out the handling of contracts and fees between the two of us?

Do you charge application fees?

Now , you will have to add value for the homes , so this will depend on age/condition etc but lets say 20k per home  so 200k on top of the park value will make the "package" be 2,067,764.In this example rule of thumb, looks like actual expenses are close to rule of thumb ( now you are going to want to make sure that you have all expense factored in such as mgmt fee 5% , plowing etc). 

"Must have 3X monthly rent in pre-tax income and a 650+ credit score"  In addition, I have the applicants pay the $30-$40 fee to have me use the following website "https://biggerpockets.mysmartmove.com/" to screen their credit. 

It literally has the highest annual corporate filing fees in the nation ($800 per year!) 

A realtor's listings can be lost to another realtor if that monthly fee isn't paid? 

   - 9% preferred is good, better than the standard 8%-60/40 split after 16% IRR is not good, there are deals with better splits- Generic value add play, invest in units....raise rents....sell at higher price due to increase NOI- I dont like the short 2 year hold but some would love it- I think the fees are high, but not unreasonable.   

I have a question regarding late fees.

When a lease or state regulations say to pay by such and such date that is the date that late fees can be charged not the date the rent is late.If rent is due on the 1st and not received by midnight then you issue a pay or quit notice the very next morning.