In between the $25K limit is reduced by $1 for every $2 of AGI over $100K.If you can't use the passive loss against other income then it carries forward and offsets taxes when you sell.  

Someone is in the property and this could reduce the chances of vandalism, theft, etc.

We just have to get through the first 8 years at a substantially reduced rate of pay, and it is during that time we will only be able to save $10-20K per year. 

The interest charged for the next period is reduced and so on.

Reduced expenses to point where retirement check covered it all. 

Your conflicts will be reduced or eliminated and there will situations where you get treated to deals that you might otherwise have never closed on. 

If you can do 30 years and pay a bulk sum/everything off when you graduate that will be the better option.  

The numbers certainly change the debt service by about a $100 or so a month reducing the cap rate, but my bigger concern is if I should just forget about this loan all together because of the callable part.  

That's because the basis is reduced by depreciation for rentals. 

I also used my VA loan, so I only had to pay closing costs of about $3.5k.Unfortunately, this area was in what’s called a “Mela-roos tax” zone for roads/neighborhood upkeep which added an extra $350/month to my PITI.Therefore, my total payments were $1600/month.When I moved in the summer of 2012, it looked like mortgage rates had sunken to about as low as they would go (I was wrong, they dropped another .75 basis points…but who can time the market).I decided that I would refinance to get a lower monthly payment.For $2k, I was able to reduce my monthly payments by $230.Add this to the fact that real estate prices were rising fast (my Ohio property was now worth about $95k and the one in California was at about $240K!).