Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.PM us if you’d like to discuss this logical approach in greater detail!

In the worst-case scenario, your entire IRA can be considered distributed. 

I'm looking to avoid rookie pitfalls/mistakes/regrets.

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 recommend using an experienced agent to help you buy especially off-market deals to help avoid costly mistakes.  

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. 

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

Anyone have an idea of whether this is a mistake in the book or my/Google's calculations?

Otherwise you will dream up the worst scenarios.