Most people/investors are very short sighted.  

Hi Mike,Check out a blog I wrote for Bigger Pockets about investing from afar.http://www.biggerpockets.com/renewsblog/2014/07/26/sight-mind-real-estate-investing-afar/You might find it useful.Thanks and have a great day.

Then 5-10k down payment, $900 per month with 150 per month of it going toward principle pay down, balance due at end of 3 years.?

(This is very realistic in a lot of markets throughout the US and in some markets the returns can be higher. ) The monthly PITI (PITI stands for monthly principle, Interest, taxes and insurance) would be about $550/Mo (20% down, 30 year, 4.5%, 1% tax, 400/Yr insurance).

My market in NH is different than yours, but the principle is still the same.  

If I were a prospective tenant, I would be hightailing it back to my car if I was told that, just on principle alone.It would be like a bank saying, "Your mortgage is now due one week early so we can get an extra jump on starting the foreclosure process if you don't pay us."

I recommend you search the google machine as well as the BP sight to educate yourself a bit more.Good luck!   

Might have considered settlement costs prior to accepting the contract as you could have pushed more of the costs either direction so reduce you expenses, I know, hind sight.  

Let's say you were that far into a 15 year mortgage, wouldn't it be logical to think, ok I only have 5 some years left of this mortgage to pay therefore I am mainly paying the principle at this point, I will stick out paying it til the end so I can own this property outright and then really benefit from the pure cash flow of having a rental property?

Like successful professionals in other fields, we must invest in our education and as Bill Gulley and others have suggested before me, take a real estate course or 2 to learn the principles.