Just waiting for the HAMP is exhausted mid Aug/Sep and 2% interest rate goes up to 4%.

It takes thousands of hours of "practice" to do it well. :)  It's also simple to learn just no where close to easy to execute. 

In fact, for one of my rentals, I found it cheaper to pay for the preventive removal of a sketchy tree on my neighbor’s property rather than wait for the tree to fall on my house (and risk the tenants getting injured).  

So 2820/(%15 down + some closing costs) (7350+1000)=33% cash on cash return, so 3 years I would get my money back.opinion- less capital to put in, more money at the end if more stuff goes wrong, but 1 house and will have to wait longer to get the third property. if tenant moves out I can rent out rooms for college kids even if its 400 a room for the 3 bed. thats 1200 which makes it better deal. would be less stress to manage, but dont have any recent maintenance on this place yet. 

If you can't get a lease that allows you to raise the rent when you take over, you'll need to price this 1 year loss of rental income into the purchase price and just wait it out.I wouldn't worry about a tenant being there. 

@Mike Kooser Sr In both cases whether you take a conventional loan or HML you have to wait 6 month to cash out. 

or should I wait until next year when I’ve actually made profits made to hire an accountant.

When doing a assignable contract do I wait to put the assignment fee on the contract at closing or do I already know the price I’m willing to take and put the assignment fee down when I get the seller under contract?

If I waited for that i would never get in the game.

Or, the seller needs to bring cash to the table to cover the shortage.Or, wait for a buyer who will pay enough to cover the mortgage payoff.