If you plan to ride the market for the long-haul and you don't intend to accrue a lot of units, you can weather more fluctuation and lean in to appreciation more.

However, our family has a trust with double if not triple the funds we would need...I believe it currently accrues less than 2% in interest.  

This page explains in detail the kind of rights that accrue to surface and mineral rights owners:https://www.rrc.state.tx.us/about-us/resource-cent...Note - drilling and operations companies do NOT have the right to use imminent domain to pre-empt your surface rights.

If the borrower is still paying the principal and interest payments, the easiest thing to do would probably be to just keep track of the accruing late fees and add it on to the payoff demand when they go to payoff the loan. 

The late fees have been accruing for several years. 

The comps in the area are roughly $100/sf, so it looks like I may be able to make some profit flipping them.The lending terms I am hoping for would be:70%ARV80-90% purchase funding100% rehab fundingDraw schedule of 3-4 draws funded when the work is completed for each draw12 month term, interest only payable monthlyInterest rate 10-12% accruing only on the balance outstandingUsing BP's Network search I found a list of national HMLs who participate in Louisiana.

To set yourself up for success: Research local and national market trendsSecure rehab bids from reputable, trusted contractorsCreate a realistic timeframe for completing the workFactor in holding costs that accrue while the rehab work is being completedWith solid research and good numbers, you can be reasonably sure your investment will turn a profit.

What you're talking about is interest accruing from the COE date to when the next month ticks.

Once purchased, that property will have continually-accruing expenses until it has sold again.

Though small, God forbid we face a major recession again your unemp benefits will kick in based on your accrued hours.Personally I like to be a w2 employee and have my side hustle on a 1099 for my tax write-offs.