With loan extension you might have to come up with extra payment to get DSCR in range lender will approve.That is why to go through this exercise NOW and if you know tenant wants 300k TI to extend and bank wants 300k to pay down estimated balance when new loan placed you need 600k to come up with.

I am consider newbie in REI.

Main questions should ask about the seller's:- Reasons/Motivations for wanting to sell- Desired timeline to close- Plan's after selling (relocation, reinvesting proceeds, 1031 exchange, etc)- Back-up plan in case they are unable to sell within the desired timeline- Reasons for not already selling to/with a investor or RealtorAdditional questions will depend on the type of seller lead i.e. pre-foreclosure, probate, fsbo, absentee owner, etc.Here is an example of a youtube search you can use to begin finding call recordings.There are 1,000s and you'll find that the best/most effective ones don't even sound like sales calls.

You can easily look them up on https://nmlsconsumeraccess.org/If they are a commercial lender, you may want to check for google reviews

If not, then this article will help you to be familiar with the 1031 Exchange and how is it beneficial for you as the investor.

Sec 8 here also inspects the home each year, in addition to your PMs inspections (if you have one).

Purchase price: $595,000 Cash invested: $125,000 Purchased with the intent to lease to the tenant.

I flip rentals as a primary and do it in pretty high volume & use any spare revenue not reinvested in this business to buy very high yield stable MFR in working class neighborhoods.

Or is this some other case? 

In Cumberland county NC, the Sheriff office is an option and certified mail.