Why would someone buy now and make little money for the chance that the rates will adjust later?

As far as benefit to the seller goes, @Matthew Paul I think you are probably right on the money and regardless of whether they would have preferred to stay in this house rather than move, it is likely providing them some excellent cash flow; and I'd be hard-pressed to come up with a deal that serves both parties better than the current situation. 

Even if you break even, you will lose money every month it sits vacant, when you need repairs, property management, etc.

It took them 3 months to get my money invested and paying monthly.

Lastly funding developer who has 3 subdivisions going in WA DC market. these are big time deals and with our funds for the soft costs  500 k to 1 mil on each project my client is going to make  sit down  but probably over 10 million net  life changing money and well we will do good too !!

or, do you cash flow only after you've set aside money for capex and other items? 

These small conveniences can save you time and money in the long run.For rent collection, you can try Rent.app, which is easy for tenants to use and keeps everything streamlined.

No other money has ever gone into it, and none has ever been taken out of it.

I am proud to announce that I got another client under contract on a 4Plex here in Fairbanks Alaska. They are locked in with a 6% interest rate on a property that we went above asking price on. Currently under contrac...

Good morning Carl, @David Krulac is right on the money.