It will be a mortgage on the home, so I will be paying a monthly note.

"For purposes of enforcing the due-on-sale (or due-on-transfer) provision, if any, in the security instrument, theservicer must consider all of the following situations to be a transfer of ownership:- the purchase of a property “subject to” the mortgage loan,- the assumption of the mortgage loan debt by the property purchaser,- any exchange of possession of property under a land sales contract or any other land trust device, and- in cases in which an inter vivos revocable trust is the borrower, any transfer of a beneficial interest in thetrust."

Excavate existing septic tank.

I would highly recommend that you speak with an attorney that does this on a regular basis to ensure you are protected and to ensure the loan docs are legally binding - the loan docs are of course key to ensure that you have documents you can execute on in the event of a default (mortgage, note, assignment of rents, personal guarantee, etc.). 

If you don't have any debt, a 750+ credit score, and income, you should not have any issues being approved for a mortgage. 

Basically a mortgage. 

Just that I am not too worried about cash flow...I am not interested in negative cash flow, but given the situation (inheriting a property with no mortgage) cash flow will happen...so just looking to get the entire picture from the tool.

I want to have one mortgage only.

Even if they’re paid off and you don’t have the mortgage interest to write off.

Meetups in this area are non existent so I was really hoping to get something setup a bit closer than North Dallas.