Quote from @Gregory Schwartz: @Chris Seveney Assuming a newer investor.

Assuming an only child situation where you’re not screwing a sibling.

Since you’re assuming this debt as part of the purchase, understanding the exact amount is critical.

You might decide that you absolutely want to own your own residence there and I assume you can afford it since you already own properties elsewhere, likely in beautiful Hawaï.

Just underwrite a refinance assuming about 30-36% of the money you will receive goes to refinance closing costs at worst, and find discounts when you can.

Other types of sellers that are making deals easier to get done are those with assumable debt available, and sellers with the ability to seller finance there properties.

As others correctly noted, as a landlord you must look at the big picture and if this happens to be a good tenant who has occupied the unit for a while, has a history of timely payments and has expressed interest in remaining at the property the value in an extension (assuming that is advantageous to you as the landlord) should be placed above your desire to collect rent in a certain method if this particularly tenant has strong desires to make their payments in a different manner....especially if the lease they signed allowed a different payment method.

I assume we're talking about a rental property. 

So if your interest payment is $1000 then the servicer automatically ACH debits your account that plus the servicing fee (assuming you set up automatic payments as @Christian Ehlers suggests).

So I assume that is normal?