The market dictates which way I go. 

Generally, buyers have many properties to chose from and buyers dictate the terms of the transaction as they have more leverage and negotiating ability over sellers.Sellers market is the opposite, when demand is high; inventory is low and buyers are bidding on properties to get them.

Generally, state law dictates compensation through foreclosure and will allow "usual and customary" attorney fees, so asking for a "flat fee" isn't going to be received well by those who do foreclosures, there are also other expenses such as giving public notice, title work, etc, these can be fixed or variable costs based on the property/note value and sale price.

Key takeaways are to talk to your tenants early so they know what you will be doing and that your heating load is dictated by your building envelope.

That's right, interest rates only dictate your payment.

From there their experience would dictate the rates and terms.  

Had a few questions about the property - is seller dictating title?

Please tell me you didn't buy the 351 units on Cornell.Location will dictate which strategy to use to get quality tenants. 

However, in every situation I've been involved with the tenant has a case worker that dictates how this issue will be handled.  

If your in it for the long haul, maybe consider getting your own little mgmt systems in place if possible but thats going to be dictated by your goals ,capacity, time etc