The Union Bank rate lock agreement dated January 14th, 2015 states 4.0%, $552k, 480 months, conventional loan type, payment type: interest only, adjustable rate mortgage terms apply: ARM Type: 7/1 interest only ARM.

The property tax burden is a valid concern but there are other advantages & with strategic buys you can definitely achieve double digit p.a. 

But if you're planning on holding numerous properties long-term where there will be substantial equity, you may get with an attorney about a Delaware Statutory Trust which has benefits over a typical LLC but still allows for separate properties to be held in different "arms" of the trust. 

Do you have any digital documents/checklist, form or software you like to use or recommend to keep track and record everything?

You can start interacting via phone.To find out about an area go to IREM.org search for ARM certified property managers.

Going alone at REI with limited knowledge is like trying to operate on your broken arm after reading a book. 

It took awhile, but I found a lender that will refi under 12 months, but the terms aren't the best. 70% LTV and 15 term 3/1 arm and they said I was their first one and only did it because I have other mortgages with them. 

To find out about an area go to IREM.org search for ARM certified property managers.

In that case, you can sometimes get a better mortgage as a 5/1 ARM and drop monthly payments.

I am looking at a sub2 deal with the following details:1) Motivated seller that understands sub2 deals2) 1st mortgage with rate of 2.75% 30 year ARM (loan is current)3) 2nd mortgage (originally a HELOC) has been in default for 5 years & was already charged off (a charge off means the lender is no longer in collection mode, wrote off the debt, but does NOT equate to the debt or lien against the property being canceled as some people think).