They make money off of the fees going in.

The seller needs moving money, there are oftentimes an arrears that has to be paid on the loan, there are oftentimes HOA fees that are due, there are title costs, there are escrow costs, usually there is deferred maintenance, you have to make mortgage payments out of pocket until you get a renter in there, you have to pay utilities and taxes, and you need reserves in case it all doesn't go as planned.3.

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I know he was making around 2,000 a month per room.

After that you use the attorney to close on the loan and the fees are charged to the borrower. 

Most title companies won't do "double closings", but they will do wholesale fee closings.

There have been 900 properties posted for foreclosure for the 1st quarter of this year or about 300 per month.

It's the same work to do a $50K loan as a $500K loan so the fees will be higher due to the loan amount but will still be much lower than what a lender or broker gets paid on a higher loan amount.

@Jonathan Ghione S8 tenants are getting more and more "spoiled" in our area - Metro Detroit.Too many newbies and Turnkey companies are waiving application fees and security deposits, also giving them recently rehabbed, really nice homes.Then they trash them.Have you stopped and thought about WHY someone qualifies for a S8 voucher?

I also live about 20 minutes from the property so i would be local.