This continues to accrue until the next regular scheduled payment becomes due, then you have a principle reduction required that will change the figures so you'd need a new payoff quote from the lender.As Jon mentioned, there is no need for you to get involved in a payoff as the closing agent does this and the lender may not give it to a third party anyway, the borrower or closing agent needs to get this information. :)

I was able to follow the Example on my own Except the Equity accrued.

Luck comes to those who work hard and are persistent.For now I am concentrating on getting this thing to the rent market and once it rents I will put all my efforts into paying off the short term debt I have accrued to make it possible (with extra help from new rental cash flow).

In Texas, we are legally allowed to deduct late fees accrued from the security deposit. 

Professional lenders will want you to have 10-20% of cash in the deal to keep you honest.If you don't want to make monthly payments, offer two interest rates: lower for monthly payments, higher if it accrues and is payable at due date.

In addition, to get the deal to cash flow while you are fixing re-leasing, etc you might try to negotiate a 2nd that accrues interest for five years with a balloon payment at the end of the five years. 

The yearly property taxes were only around $40 so I'm guessing they've been accruing for quite a while. 

If the PM is not adding that accruing $65.00/m to the Account Statements, that would SURELY be breach of the Contract you have with the PM?

In other words, perhaps he'd be agreeable to having the interest accrue on the loan (no payments) for 1-5 years at 5-6% interest and then balloon.

The options are so varied and dizzying that one sits paralyzed and procrastinates, while the money accrues 3% interest in some bank.What I need to be able to do is buy the first two properties while leaving my options open (financially) to buy more in the future.