As of this year, my understanding is that the premium applies for the life of the loan, not just the first 20% of principle.

Because your principle and interest payment is probably hovering around $2,800/month, not including property taxes and insurance, maintenance and any allowance for capex.But forgetting about cashflow, your return, even if had NO expenses or payments of any kind would be around 3.6% based on a valuation of $1.3m.  

I am a complete novice when it comes to real estate investing other than being familiar with general investment principles and real estate investment terminology.  

Understand the principles of real estate and look for value changes in the property, market and use or utility of the property. 

If you want to be an unlicensed broker with no ethics, etc then piper is the guy to follow.

A bit risky, but it worked.Having said all the above, I did not have the complication of a mortgage on these properties because I used line of credit funding on my principle residence.  

Ohio Real Estate Principles & Practices (40 hours) 3.

And if not what's the proper way to go about it morally and ethically correct?

I'd then create a post on BiggerPockets saying where you are from and that you're looking for advice on how to find an ethical mentor in your area.

You can always pay more towards principle on a 30 years mortgage to shorten the term.