The few senators that have indicated they would support it have also said they would only support it if the change was part of complete tax overhaul, which is now possible since the Republicans control the executive and legislative branches of government. 

Define your long term goals, put a plan together then assemble the right team to help you execute that plan.  

This is one strategy that I have come across that I think could help me grow my portfolio faster.I have engaged with conventional lenders but I think I would need private/portfolio lenders to execute such a strategy.  

Now that you have a deal AKA the goods, it's time to execute.

(vii) provides that notwithstanding any other provision of law requiring written brokerage agreements or governing the duties of licensees, nothing shall be construed to require that a written agreement between a licensee and a prospective buyer or tenant be executed prior to the licensee's showing properties to the prospective buyer or tenant;

The other option is they leave your ownership alone and levy your bank accounts, foreclose on other properties you own, etc. which would be executing on the promissory note.

I am from Brooklyn, NY and plan on beginning to invest in northeastern PA, specifically the Lehigh Valley region and even more specifically, Bethlehem.I am a registered architect in NY and currently work as a design executive with a well respected and established residential developer in NYC.  

I have past experience in creating/executing annual budgets, targeting cost reduction/efficiency gain and creating tools/presentations.

This has nothing to do with your proposal, unless I am missing something......you will have a contract spelling out the term and interest rate, with or without a balloon, then execute a note and mortgage with those terms.

EXECUTION and EXPERIENCE- DO IT