There isn't any annual tune up with this contract, but if the heat is broken, it will be fixed. 

What would you estimate the additional labor hours to be annually for reading, processing, etc?  

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

You will need to schedule annual meetings, prepare minutes and maintain good records.

I am trying to make sure I am only enforcing the lease and not reading it with a biased perspective.I would happily consult an attorney for a reasonable fee (any recommendations are welcome.)The original annual lease had an end date of 3/31, if that is helpful to know.

I would like to create an offer that would let me delay creating a mortgage and some type of annual or semi-annual payment for 3 years.  

There are a few slower months that bring my overall annual occupancy down to 80-85%.

What if you're a cardiologist with no debt and making $250,000 annually?

It looks like no matter what, my actual name will need to be filed on annual report with the NC LLC (even using a registered agent). 

We're also doing our second annual gopod trip later this year.