You'll usually find that payments are first applied to accrued interest then to principal and that application is to the period amortized.

Hi, simple interest is interest on the principal amount to the payment term, compound interest is interest on the principal amount and the accrued interest over ther term. google it and you'll find the equations.

City, sewer and fire liens can add up and may not have been cleared by the tax deed or may have accrued after that. 

They apparently were unable to locate me between those times, as such they filed a second lien.The only difference between the two is the added interest that accrued over the two years.This has been paid in full at this point.  

It was my first purchase, thought I could just accrue equity over time while someone else paid the mortgage.

The way I think it would go would be:  I find a good deal, borrow the money from the investor to purchase the property, refinance after rehabbing and then pay the investor back plus accrued interest with cash to spare (best case).I wouldn't think partial cashflow would be an appealing return.Justin

From proceeds of sale, typically subtract: Court costs, cost for pubication of notice of sale, trustee commission (5%), assessment fee, document stamps, the secured obligation (includes all lender/servicer fees , principal, accrued interest...), trustee's recording costs (notice, S-TR filing fees), title expenses paid by trustee, back taxes, and possibly some others.

Mortgage interest is earned and deducted as paid, not accrued

Tenant covenants that Tenant's occupancy of the Leased Premises beyond the term of this lease shall not be a renewal of this lease, but that the acceptance by Landlord of rent accruing after the expiration of the term of this lease shall be considered as a renewal of this lease for one month only and for successive periods of one month only; provided, however, Landlord may, in its sole discretion, give Tenant notice in writing at any time during such holdover tenancy of an increase in monthly rent, and upon the giving of such notice, Tenant shall pay the increased monthly rent effective as of the first rental payment date more than thirty (30) days after such notice. 

I have a full time job so it'd be an evening and weekends kind of deal so I was thinking of using my brother to offset some of the costs that may accrue from holding the property for a long period of time.