It's called a payoff statementif it's a big lender you will not buy the loan as it will take forever, you are better just paying it off. you then can foreclose based on the total balance owed to you which is both loans and any accrued interest. regarding fixing property or selling as is, that really depends and needs to be evaluated on a case by case basis 

You'll be on call 24/7.This is a controversial statement but the average property manager who has proven systems in place can most likely manage around 80-100 properties on their own, maybe more or less depending on how many hours they want to work.

The quality of available tenant varies drastically depending on the neighborhood.

Again, depends upon location.

@Jeff Ryan To be honest, it would depend on your goals.

Contrary to what some say, this is NOT a state-wide requirement, it is lender dependent.

Depends. 

I would be a job for you, but could be lucrative depending on how you structure the agreement.

Keep in mind the more you write off the less money you will show as you net.If you have (2) full years and depending on how the accountant files your taxes you will have a schedule C more than likely or another schedule that shows profit and loss.

From a commissions standpoint it depends on the agent.