I know Memphis is primarily a rental market, BUT it's also a buyers' market & I've come across some great properties with outstanding potential in the Cordova area.

However I have a strong ability to find outstanding deals.

Adding to what @Mike Hartzog listed above, as the noteholder you can also negotiate a lower balance/payment per month with the borrower due to the flexibility of buying the note at a lower price than the outstanding unpaid balance.

They did pay the outstanding gas bill last Friday. 

From what I understand, the FHA is pretty strict on making sure you reside are living in the property while the loan is outstanding.

One more reason to go MFR, BTW.If you get a full 27.5-year ride with a great investment property, you toast your spouse with a glass of outstanding champagne and count your blessings.

Your title company does the research to whether or not the seller can legally transfer the property to you, and that there are no open/outstanding liens or other claims on the property.

This fee is added each month that there is any outstanding balance due.

If they do, and the landlord responds within the 10 day allowance, that tenant’s voucher can get placed “on hold” until compliance is made with the current landlord.If a SEC 8 tenant has an outstanding landlord judgment, HUD will not reissue their voucher so they can move until the judgement is satisfied or a payment plan has been agreed upon.SEC 8 tenants are educated in the process of home inspections and are quick to call if they see a problem that may compromise the house, such as a water leak.In most markets, SEC 8 pays “market rent” based on comparable non-SEC 8 units that have rented in the same city within a 5 mile radius, within the last 6 months.

Monthly interest charges are simply a function of the outstanding balance for That month.To easily calculate how much extra to pay to pay it off in say five years, simply put your balance amLunt into an online mtg calculator, for a 5 year term at your interest rate.....the resulting amount is how much you’d need to pay each month.You can also plug your current loan into the calculator, look at the amortization, and see exactly how many months a lump sum additional payment will “skip you ahead” in the amortization schedule.