This means that if you pay off the loan too early, then you'll pay a 1-5% fee off the loan amount. paying off the loan early means you either refinance or you sell the property, both would trigger a prepayment penalty to the lender. that being said, you can choose your prepay options, 5yr usually giving you a better interest rate by like a 0.25%, 3yr being most common and standard, and a 0,1,2 yr where you can buy down the prepay to be less years. meaning you pay 1% upfront of the loan amount to get a 1yr prepayment penalty so you're free to sell the property or refi after 1yr. 

You can get overviews for free.

While other banks will allow 10 on credit and then allow you to switch to a DSCR or actual portfolio loan to free up credit.

If you're ever interested in seeing what's going happening on the western side of the state feel free to reach out anytime. 

They would be free and clear.  

Gaining a risk-free property, with a long-term resident there to pay down your fees, etc, with a property management company in place to hold your hand along the way and making sure your property is kept up with. 

If your manager is just 'keeping an eye' on things, collecting/reminding on a few rents here and there and some light cleanup while being compensated in free or reduced space rent then classifying them as 1099 subcontractor is great. 

Bridge Loan: A bridge loan could provide the $150,000 you need until your tenant-free property sells.

He puts a lot of free content out there to learn from.  

You can use it as a downpayment on a property over $450k and use leverage tax free.