You should consult with an attorney in NJ who specializes in LL-T law. 

The strategy worked great, but without having any experience with the loan product, combined with signing a sales contract that had removed the protections for me regarding contract termination and return of my $10k earnest related to the approval of funding, it made for a very stressful process. 

Like that idea, balloon payments stress me out before I even get in a contract for one!

Yes, it was a bumpy ride but I think we will be down in the mid 5s again in t he next 12 - 18 months.

Quote from @Henry T.: My neighbor just had their 110 year old house sanded entirely down to the wood.

Tenants not paying on time is a very unexpected reality that I would prepare for as well, and having an emergency fund out the gate will mitigate a lot of your financial stress upfront. 

I don't know how you are saving money when you account for your travel and time on multiple days, plus the stress caused by your upset tenant.2.

SECRETS OF THE MILLIONAIRE MIND (BY T HARV EKER)https://www.amazon.com/Building-Wealth-One-House-Time/dp/007...

You know what they will settle for: JACK S**T, because that is what they are entitled to as the cause of the problem.The fact that you keep coming back to offering them compensation for their actions tells me you shouldn't be managing properties.

Mortgage rates do not perfectly move with the 10yr T, but its pretty dang close.