By the way, they do not set the interest rate on the loan until they fund it -- so it could be higher than what you are initially quoted when qualifying for the program.  

Have you offered acceptance of your initial capital bank in return for a release and waived rights to the accrued interest? 

My answer would be yes for the INITIAL bill; however, after that they are on the hook because they failed to tell you there was a problem and now 3 months later, they are letting you know.

Impressive Rent-to-Price Ratios: Average rents for 3-bed homes are about $800-$900/month, potentially yielding 12-15% gross returns.Economic Transition: While historically industrial, Bay City is diversifying into healthcare, education, and service sectors.Revitalization Efforts: Downtown redevelopment and community initiatives are breathing new life into the city.Strong Cash Flow Potential: Low property taxes and insurance costs contribute to robust monthly cash flows.Let's crunch some numbers on a hypothetical deal:Purchase Price: $75,000Down Payment (20%): $15,000Mortgage (4.5% interest, 30-year fixed): $304/monthProperty Tax: $100/monthInsurance: $60/monthEstimated Repairs/CapEx: $100/monthProperty Management (10%): $85/monthTotal Monthly Expenses: $649Potential Rent: $850/monthEstimated Monthly Cash Flow: $201Cash-on-Cash Return: About 16.08% (not including appreciation or tax benefits)These are rough estimates, and individual properties will vary.

Cashed out refinanced and got our initial down payment back.

In my initial research, I'm finding a pretty big disconnect with the deals that Michael implies in the book and what is actually out there. 

If a renter wants to extend for a few months their stay beyond the initial lease term, will I be a) required to extend and b) at the same rate as their existing rate?

Cash flow was not huge initially but I also did not need it to be.

If there are excess funds after paying the local/school real estate tax bill, the remainder can go to:Current real estate taxesCurrent Muncipal liens for water/sewer or any other bill initiated by the municipalityState Liens, usually for outstanding state taxes, sometimes employee/employer taxesPA State Inheritance Tax which applies to all deceased owners and starts at dollar one with no exemptions, unlike the Federal Estate Tax. 

I just recently read, after my initial post, that meals with clients are 50% deductible if not "lavish" in price.