(gross rents $4900; 8% PM; mortgage+insur+taxes = $3600/mo).

If I understand correctly; the seller would receive 80% ($40,000) directly from the mortgagee at closing and would enter into a personal agreement with me for the 20% down payment ($10,000) in which he would be reimbursed separately from my mortgage payments at a separately agreed upon rate and term?

Seller purchased for 310k, put 100k down and has a mortgage for 210k.

Any referrals or recommendations for good and qualified brokers, sellers, property management companies, loan brokers, insurance brokers, mortgage brokers, contractors, etc.

I have a small mortgage left on it with around 3.75% rate and I think Chase (mortgage holder) will accept that I modify the deed such that it goes into an LLC. 

Rent payments from the medical LLC are fully deductible as a business expense, while the property-owning LLC will report the rent as taxable income, which can be offset by deductions for expenses like mortgage interest, property taxes, maintenance, and depreciation.To ensure compliance, document how FMV was determined—using market comparisons, an appraisal, or similar data—and draft a formal lease agreement outlining the terms, rent amount, and responsibilities.

.🔹 How It Works:If your rental income falls short of covering your mortgage (PITI), you can use liquid assets to supplement your income.

For example, you might choose to take a blanket mortgage covering all properties, BUT perhaps the market softens and later you wish to sell a property.

Getting a property with a 3% mortgage that offered both equity appreciation and solid cash flow is what sparked my passion for real estate investing.

The biggest determining factors for STRs in the area are purchase or build price (and associated mortgage) vs rental expectations, that will help you determine net cash flow.