Currently I am looking at mira mesa area 92126 as I see ~900K houses there and schools also are rated 7-9. 

Expect a .5 to 1% success rate in finding deals generally, and especially on the MLS.

Luckily it is fee simple and I would need to read up on the HOA by-laws.

Usually, I would think receiving funds would not take a month to get to me if everything as in paperwork and fees are settled immediately. 

There’s usually a one-time per loan fee for boarding (approximately $50) and if you decide to leave the servicer or take back a particular loan, there’s usually a $50 (approximately) one-time fee for “de-boarding” the loan.Skip Tracing – Servicer will research many different avenues to try to find your borrower.

mortgage closing costs: 2 to 5%property value appreciation: 3 to 6%cash on cash return: 2 to 4%cap rate: 4 to 5%rent growth: 3 to 5%rental property expenses growth: 2 to 4%repairs & maintenance cost: 5 to 10%capex: 1 to 3 %Vacancy rate: 4 to 6%Mahalo !

At today’s high interest rates most bank cd’s have a higher “cash on cash”/ “cash flow” return than rental properties.

Interest rates ha probably peaked so if they got away with it thsi long they are probably safe. 

That doesn't just include the interest rate but can also include many/all loan costs as well - varies by state but can include points, title, escrow, processing fees, etc. 

I'm paying $85 a month extra on the loan and it knocks 5% off the first year so I'm only paying $80.75 extra on principal each month with $4.25 "penalty" fee.