I dont have a lot of bad news they are patient with repair issues when they do arise, and caring of the premises It is great to hear you are taking a similar approach pm me so we can compare notes

It can be very expensive.It sounds to me like you've got the money to prepare to pay some very high cost medical issues should they arise.  

The amount of any earnest money deposit needs to be sufficient to indemnify a seller for any financial loss arising from the sale, this then varies due to the factors I mentioned before.

The benefit to you, upon a thorough examination of the individual, is a property that is essentially managed for free and the removal of long-term tenant issues that can sometimes arise in long-term rentals.

Making sure to keep record of payments on my end as proof I'm making the payments in the event any unforeseen circumstances arise in the future.Aside from that, I'm assuming I could get a standard note online and include the specific terms, payments, interest, and or balloon correct?

Lets see if this environment is real or not, and we will know when the 10 year hits 4%.Not saying it a bubble that can "pop" but i suspect a lot of demand arises from low rates

I have a maintenance man on payroll who will take care of any maintenance issues that arise. 

The worst case is that I never pay one dime early, and I've locked in 30-years of borrowing at under 5% interest on investment property, which is an amazing thing historically so we're happy to keep those loans for the whole 30 years if necessary, especially in a rising interest rate environment, and focus our new money on where it can earn us more than 5%.   

This is why relationships are critical in syndications and not as much when investing in a typical mutual fund/ETF portfolio.Don't mistake a rising tide - the RE market being up for 9 years - for operational intelligence. 

My predictions are as follows:• Current inventory is increasing, but the interest rates have made the payments unaffordable for many first time buyers• Prices will decline until the homes are affordable given a rising interest rate environment.