If not I would suggest finding a servicer to collect and manage that note. 

Any Gap funders you would suggest? 

Starting with three T-12s from properties of a similar size and market is a fantastic strategy, and I’ll definitely take your suggestion of setting aside time to really dig into the details.Thank you for the encouragement and practical tips—it’s advice I’ll take to heart as I move forward.

It's deceptive practice, plain n simple. 

I’m interested in learning about buying and holding long term rental properties.But I’m in a really messed up situation right now and looking for suggestions what would be the best approach to my situation in order to scale quickly. 

This is simple to understand.  

I believe that you don't get returns (failed to deliver) with bulk mailers so you don't know which addresses are bad.That's the simple stuff.My advice is to do various mailings that you or some prepares locally, that go out immediately, using 1st class postage.

If you're getting started, I'd suggest focusing on single-family homes in growth areas with strong population trends—let me know if you need help finding the right deal!

One CPA got rude on more than 1 occasion, for us merely asking a simple question.  

The landlord shall not commingle such moneys with any other funds of the landlord or hypothecate, pledge, or in any other way make use of such moneys until such moneys are actually due the landlord;(b) Hold the total amount of such money in a separate interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants, in which case the tenant shall receive and collect interest in an amount of at least 75 percent of the annualized average interest rate payable on such account or interest at the rate of 5 percent per year, simple interest, whichever the landlord elects.