I personally started on the origination side and let my curiosity lead my learning.  

We're regularly presented with busted flips.In reality, unless a disaster occurs, most projects just go slow and you'd probably just give your friend a no-cost extension to enable him to complete the project and let the interest accrue.

The yearly property taxes were only around $40 so I'm guessing they've been accruing for quite a while. 

But moving quickly toward a 15/30 conventionalOut of curiosity how much down and what is the proposed rate range?

Out of curiosity where do you primarily invest?

If the PM is not adding that accruing $65.00/m to the Account Statements, that would SURELY be breach of the Contract you have with the PM?

This was one of those interesting side questions that just peaked my curiosity. 

This continues to accrue until the next regular scheduled payment becomes due, then you have a principle reduction required that will change the figures so you'd need a new payoff quote from the lender.As Jon mentioned, there is no need for you to get involved in a payoff as the closing agent does this and the lender may not give it to a third party anyway, the borrower or closing agent needs to get this information. :)

@Joe Fairless Your signature line peeked my curiosity...in 6 years you went from $0 to $7 million of control...awesome...would love to learn from you.Actually looking forward to gleaning from all of you that replied here :) So much to do, so little time...lol...Have an AWESOME day everyone...will be back on here shortly!

I was able to follow the Example on my own Except the Equity accrued.