do you find it strange that year to year expenses are identical down to the last dollar though the inputs swung significantly year to year on some items?

As you probably guessed, the result is nearly identical: you end up with about $250K in 30 years. 

But, truthfully, if you bought in Brooklyn and live in one half of a duplex, you'd still be subject to some CG because you rented the other half - they're two living spaces, so the portion of the your profit attributable to the rental space (half, assuming both sides are identical) would still be subject to CG.

The houses are identical expect for the fact that ours is a lot nicer and completely rehabbed.Here are the numbers:Purchase price: $160,000Mortgage: $1030 (taxes and insurance included)Proposed rent: $1,500Property management fees (10%): $150Cash Flow: $320 (max) - The house was completely rehabbed when we bought it so there should not be any major expenses, but I would still plan on setting aside at least $150 for small expenses/vacancies.My thought is this: Even if I broke even or made a hundred bucks or so a month, its better than taking a $10,000 hit, right?

An identical floor plan & SF, 2 BR condo can vary $50k where I live depending on the upgrades (original or upgraded kitchen, baths, floors?)

Your initial cash outlay will be identical since you're putting 25% down - hence your cash on cash return will look much better with the 30 year mortgage.If your goal is to maximize immediate cash flow there are several local banks that will offer a 24 month IO period AND 25 year am (fixed 5 yrs).If you're looking for a stable long term product - a conventional mortgage may be the best play.

PMI companies all come in with identical pricing for >90% of scenarios, no matter how hard you shop it, barring certain wholesale pricing deals that some institutions have, and lender incompetence (I've won business because someone else was overcharging for PMI due to data entry error... no one thinks to shop by PMI rate, so many do not double check their work).

Does the note buyer receive the debtor's identity and pull a credit report himself, or does the note seller provide this information, and if the latter, how do you make sure the details are accurate and up-to-date?

Their is an identical two bedroom that is month to month for $450.

I was originally planning on attempting to do most of it myself but decided it was probably more wise to get a contractor out to have it done quick so that the house is flipped in an identical market.