My point is I have never met YIMBY that both could be affected and had no limits (ie would be good if a garbage disposal sight moved next door). 

I guess we will have to broaden our sights and help ALL people with the power of home ownership.

My thoughts were:-Purchase at $220,000 with subject-to financing-Pay the $6k to get mortgage current, then take over the existing mortgage/payments-Give seller 2nd lien position and pay them $500/month (100% go to principle balance on 2nd lien)This essentially becomes a break-even (or small loss) situation on monthly cash flow, but I own the property with $0 money down and get the benefits of depreciation.

Unless you find a gem, most properties won't cashflow because of the low down payment (and therefore higher principle) and because of higher interest rates.

The seller wants to do a 3 year Interest Only but I told him that I am not his buyer if that is the case because my goal is to always attack principle on day 1. 

I would never buy in a complete war zone with no price appreciation in sight.

The same principle applies to your finances, and a knowledgeable accountant can be the architect of that foundation.

Does the $3500 house payment include the taxes & insurance or is that principle only?

It really varies but I break it down to monthly payment, percent of payment towards principle vs interest (Interest Rate), and Term of loan.

Embarking on a work holiday, and my sights are set on Destin.