The managers and top producers didn't care about the borrowers or the company... the managers just wanted to generate fees and the top producers the same.I looked at their loans and just knew a large percentage of those loans would go bad and they were bad for the lender and the borrower.

As a million $ producer back when the "dinosaurs roamed" (the eighties), I gave her an insider's view:  it's a "people & relationship" business where consistent hard work earns trust to be successful; we're both good with math and family budgets; and we could do this wisely by using BP and investors we've met at REI, who have encouraged and are willing to mentor us, if necessary. 

There is a reason the seller is selling a property that is producing positive cash flow.  

It shouldn't be your job to manage that process, especially if the seller can't produce lease agreements. 

Then again, the negotiator may not produce it without a fee agreement.  

You can negotiate that payoff.Next, audit the file, if you have records of payments made then produce them and come to a correct payoff.

Produce yourself a fancy dancy assignment agreement and you're all set!

My ultimate goal is to own multi unit properties as a way to produce income.

Your buying an income producing asset, so count on the income.

I would contact a Realtor or since I am a Broker in Austin and have MLS access you can message me and I will give you an idea of what it is worthThe Austin market is very hot right now and if I were you I would seriously consider taking advantage of the hot market and purchase an income producing property closer to home