You can probably try this yourself with a letter or maybe even a phone call.If that doesn't work pay an attorney $400 to write a letter. 

Maybe you just hire someone and pay them to manage your projects? 

In addition, you've got your HELOC on your primary you'd have to be paying back also.

This past year they have started paying rent late to the point where the total accumulated time is about 3 months of back rent due.

Went on to purchase additional rentals so tenants can pay down the loan and I build equity How did you find this deal and how did you negotiate it?

This is a family property for which I will be paying 3/4 of the most recent assessment value.

Now I spend 5 years hoping they make their payments and somehow refinance to pay off the balloon. 

Why ask: Knowing what is included in the program to make sure you are getting all you are paying for is important.

If you think you can manage a mortgage, taxes, insurance and the upkeep of a home while paying your student loans then buying is not  bad idea but if you think you will overstretch yourself renting is nto bad either.

Quote from @Josh Jung: surprised you haven't heard of RBP. it's like a mix of services you can offer to your tenants like renters insurance, virtual concierge, etc So the property manager/landlord pays for their renters insurance, and filters?