I think HML started to market at PML to give borrowers the illusion of cheaper rates easier terms etc etc when that simply is not true in practice.

So, in that case you are simply entering in the loan payment amount for the mortgage and then creating estimates for the mortgage and property tax amounts as well.

As a new investor, I simply don't have the budget for ListSource.com or the like, with prices between $0.14 and $0.18 per lead.

Be sure understand the reason for it, so you're not digging yourself into a deep hole here.Lastly, remember that cap rate is a measure of the local market.

If you wish to buy rentals using your retirement funds you simply need a self-directed IRA (or Checkbook IRA if you wish to have more control). 

Are most landlords/PMs not contacting employers and instead simply trusting the paystubs provided?

Both buyer and listing agent commissions will need to be agreed to by the buyer and seller as part of the purchase agreement (not simply disclosed after the fact, like under previous rules in most states).When you are a buyer, and want to view an MLS listed home, you will have to sign an agreement.

I have seen more than a few syndicators underwrite real estate taxes to 80% of purchase price, which this equates to, presumably based on a tax consultants recommendation.Put simply: when the parties disclose the value of the real estate being transferred, they put own 80% of actual purchase price, with the remaining 20% likely going to goodwill or other intangible assets.

At that point, if your tenant is not willing to renew,  you simply advise the tenant that you will not be renewing their lease, and provide them a move-out date by which they must vacate the property.  

Nearly everyone who tells you they're going to do a bunch of deals and therefore deserve a discount before they've ever closed anything, is simply full of ****.Flippers we actually charge more money than our going rate, because of the increased workload, and the liability.