But if I decide to pay an extra $2,000 per month, in addition to my (dropping month after month) minimum interest-only payment, when the loan is recast to principal and interest, the new payment will be based on the remaining balance ($396,000) spread over 25 years.

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These are professionals with additional training and a stricter code of ethics.

Additionally, most servicers will provide the tax documents needed at end of year (1099-INT, 1098-INT) and can also issue notices of NSF, late payments and support delinquency /default.

Thank you Noah,I am exploring AZ, TX, OH, FL may have some opportunities based on the hurricanes that have hit recently. 

For instance, Speedway, Beech Grove and Lawrence have additional rules in place.

@Jaycee Greene I planned to approach the seller to explore the possibility of carrying a seller's note.

million in addition to their investors (who expect a reasonable rate of return) by keeping the rental rates at a fraction of the market rate?

While I don’t own investments there, I’ve explored the market and see potential for some long-term growth.

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and it's super landlord friendly.