We will also set our payment schedule to be bi-weekly (or accelerated bi-weekly) which translates into 26 {smaller} payments per year rather than 12 monthly payments {which further reduces the overall interest paid}.These two small practices alone allow us to cut the effective amortization of our mortgages in-half during the first 5-year term with no *real* impact to our cash-flow.  

Things should really start to accelerate next week.

Asking for referrals in RE accelerates the process and helps grow your portfolio.Recently I needed rooms of carpet cleaned.

Of course you'll need to crunch your numbers to make sure this works with your financial sitatuation/plans, but maybe you can:Get the 3.5% Down Payment FHA loanUse the free capital to make your renovationsBuild up a cash reserve after increased rents/increased appraisal valueApply rents to your loan (making accelerated payments) to get to 80% LTV as quickly as possible You might also consider (if the numbers work for you) refinancing after your renovations, at which point your Property Value will be higher.

Also know as an acceleration clause.A little history lesson…In the old days when banks loaned money and took back a 30-year mortgage that's exactly what you got.It didn’t matter if you sold the property to someone else that loan stuck with the property for 30 years and could be taken over and paid by anyone.Well, in the early 70's banks, lenders, state governments and other interested parties were so upset that they were getting stuck with low interest rates, missing out on taxes, assumption and other sale fees, that lenders started adding due on sale acceleration clause to their contracts.As you can imagine, a lot of borrowers thought this was unfair and brought suit against banks and lenders.Unfortunately around 1979 the United States Supreme Court found in favor of the banks, and today the due on sale -acceleration clause (usually paragraph 17) is found in most if not all conventional mortgages.For years now buyers and sellers have been trying various ways to get around the problem.

In the event you move out before it's ok to do so, you would essentially be committing occupancy fraud, and if im not mistaken, it can trigger an acceleration on your loan."

But I am liable for it.Having got this advice, I am still going to form LLC for property management side to 1) put on appearance of business and 2) I think I am going to work towards Realtor license in order to get broker license in order to manage rentals for others and accelerate the replacement of my corporate income and allow going into real estate full time.

The process is perhaps accelerated in Detroit vs. other locations, but the same thing happens everywhere.

If Lender exercises this option, Lender shall give Borrower notice of acceleration.

I'd encourage you to keep an open mind in Georgia, you may want to accelerate your timeline and purchase your first property there.