Just be sure to protect it in some way if it's sitting there paid off in your name.That said, fixed rate resi loans at 5% or less don't bother me enough to get rid of them. 

[Anyone can use an amortization website (eg. usmortgagecalculator dot org) to work out acceptable terms].I agree with those suggesting don't offer asking price, but you maybe ok to offer a bit over your provable sold comps (before or instead of bothering with independent appraisals)?

@Steve Vaughan  Thanks for answering the question rather than assuming I don't know a thing or not bothering to figure out what >4U means. 

And they don’t bother you with 10 postcards and 20 phone calls.

Nothing wrong with the company, it's just the fact they seem to have a monopoly on the situation that bothers me.

Either you buy it or don’t bother making offer.

You have to get a sticker from the city on each sign which is about $6 ea.I would think that craigslist ads, website, direct mail or driving for $$ would be more effective and you would not have to worry about the city bothering you.

I recently heard a full-time flipper say that he needs to clear 20% of the ARV in order for him to bother with a property.

Even in a Landlord-friendly state, I'm not willing to force it in court so why bother?

I tend to agree with the person that says to invest first and make that decision later but if the time and cost does not bother you getting a license could help your knowledge and can make you some money later on.