Rents have been pretty close to what the housing authorities advertise, sometimes even a bit higher.Fort Wayne’s a solid spot with low taxes and good cash flow—definitely worth looking into.

At which point our evaluation should rise on the community for closer to $4,000,000.00We've enjoyed digitizing all payments, streamlining service, as well as infilling new homes.

Payment TermsContract Value: $[Insert Amount].Deposit: $[Insert Amount] due before the commencement of work.Payment Schedule: Payments to be made as follows:[Milestone 1 and payment amount].

Most mortgage companies will not call loan due if payments are current but you do run that risk and need to be prepared to payoff or refi at a moments notice.

Know that every long term lender will require a survey and if something comes up on it when you are trying to sell or refi, you could get stuck in hard money without an easy or quick way to get out.Is there a pre-payment penalty?

It depends. all you talked about was the property but financing is more about the borrower, their experience, their credit, the cash available etc.

I've seen a situation two years ago where a new landlord had trouble evicting a tenant who was constantly late on payments because the tenant argued that the late payment terms in the lease had not been honored since the start of the lease and couldnt be suddenly enforced because of this. 

Rearrange photos, change payment from one to two payments, etc. 

Quote from @Theresa Harris: For late payments, how late are they? 

Trust sells to buyer for cash.