Run the numbers as if you leased the property from him at 10% x the value of the home( not including 1,000 acres) in lease payments @60% occupancy.

I do not have to do anything right now, I just need to learn, wait for the right opportunities, or create them - for example by trying to use subject to and take over someone else's payments who locked in a lower interest rate from a few years ago. 

I asked the GC as part of the conditional last $20k payment to transfer the title to me after his mortgage note default since I'd paid him $40k in good faith for work reportedly completed but needed rework.3.)

I guess to get a definite answer I'll have to cold call to get see if all these people are behind on their payment or it's just a standard practice behind some salesmen!

Since you're investing from a distance, I recommend interviewing multiple agents, lenders, property managers, contractors, and other professionals to build a strong and reliable team.

If the loan was fully funded at closing and since then the loan is in an interest-only payment period, these numbers would equal. 

Comparable sales are the most reliable way to determine value.

Use surveys to gather feedback on their experience.When tenants feel valued and respected, they’re more likely to take care of the property and renew their leases, saving owners time and money.Fairness with VendorsVendors play a crucial role in maintaining properties, and treating them fairly ensures they remain reliable partners.

If you pay two years' worth of property taxes in 2025 (January and December), both payments are deductible on your 2025 return, potentially reducing your taxable rental income significantly.

Payment is $1780.