@Charlie Massey Hi Charlie I'm glad to hear from folks including agents who have had luck finding deals for themselves as agents or for others as their agent.Please be aware that in any given area only 10% of the licensed agents do any a number of transactions a year most are licensed in Name only.Of the licensed agents that actually are doing a transaction or 2A month a small percentage of them actually know what an investor deal looks like even if you told them explicitly.

The lowest rate I can get is with a 7/1 Arm on a Refi.

Try not to start an arms race.

Don’t sub2 a RM.  

Frankly if cash flow is your main goal, then go with a 10 year ARM with a 40 year amortization. 

I am not sure yet if the fence belongs to the neighbor or to the current land owners, since the entire property is already fenced in.I am half-tempted to purchase the land, close the hole in the fence, and tell the neighbor to figure it out, since they knowingly put the meter on the property line without consulting the adjacent landowner, i.e. the seller of the land, but, saner minds have prevailed and I would rather not come into a property and start strong-arming the neighbors.  

Im more curioius why you would be stuck at a 20 year ARM.

It is a variable (ARM) fixed for 5yrs.

So while they're related, they don't explicitly affect each other.

Pay particular attention to Page 12 where it explicitly defines what type of animals are allowed.