Worst case scenario, I own the land again, have paid off my note on it, and made interest income off of it.

Also consider, you've gone past the first 5 years of the loan which are interest/principal reduction ratio wise the worst years. 

I am okay with the 5/30 amort, because worst case scenario, if I don't see rates drop, I can just sell or refinance. 

Reserve requirements vary greatly from lender to lender but you have to acceptable reserves of some sort as well.Lastly, keep in mind, many lenders will not consider managing properties where you are not on title as experience. 

Even if the worst predictions become a reality, hot and coastal areas are still going to be nicer places to live than the Midwest. 

This may be the worst case of being pennywise and pound foolish.

Otherwise you will dream up the worst scenarios.  

Price per square foot metric is one of the WORST metrics ever.Using that logic, two homes next to each other that are 3,000 square feet each should be the same value, right?

What’s your worst networking horror story?

It is when troubles pop up that having things sorted in advance helps.