I have recently purchased my first rental in the Independence, MO area.

Currently I'm a teacher but i hope to become financially independent through investments.

But, because it's easier for me to wrap my head around things if I understand where the numbers/values come from I've tried to independently calculate some of the metrics from the calculator.

I live near to you in independence.

He's an independent agent and has always been able to get me great rates. 

The reference to "principal Meridian" tells me it is a section land description rather than a platted lot and as such places it securely within the federal land registration system which is largely independent of county designation anyway.

The other concept to wrap your mind around is that yield (how much the property throws off in cash, independent of your leverage, as measured against the value of the property) is a function of the risk of the asset and market. 

Most lenders, no.Best rate lenders in the universe:1 & 2) No, they assume fully drawn, fully amortized (if it's 10 years i/o, 20 years amortized, these "best in universe" will assume a 20 year term for qualification purposes), might even hit you with a "payment shock" factor if it's currently not drawn.An independent mortgage broker in your area will be able to show you both options, they have no reason to be biased towards one or the other, by law they get paid by the lender the same for bringing the business in the door no matter your rate.

The use of private lending and seller financing cannot be overstated in a situation where you don't clearly fit into the banking debt 'matrix' style of lending.Your situation is extremely common for new investors seeking financial independence. 

Sending you a PM; I charge below market rate on two independent properties, for two completely different reasons.