I was recently notified that $4500 is sitting in escrow and was never claimed by the contractor who performed the sewer lateral back in 2008. 

Early in my career, I performed economic and financial analysis on large real estate transactions.

I read you need 6 months PITI (which I have), but haven’t researched the local costs yet.Gas: $277Electric: $28.10Water/Sewer: $163.31Expenses Total: $1622.05Current Rents: $1600, $1500 = $3100 NOI: $3100 - $1622.05 = $1,477.97 -> $17,735.64 per year (including PMI) Expense:Income -> 52.3% Cashflow: 3100 – (1622.05+1778.47) = -$300.52 The -$300 cashflow is how the property has been performing since I bought it in February.

I paid them on performance and small salary.

If you've been attending and networking at REIAs and/or Meetups, you'll know who the performing buyers are (or wholesalers that know who they are and are willing to go in on the deal with you).Another thought - it's overpriced.  

And I love the hands-on healing aspect of massage, but physically can only perform a limited number of sessions (no leverage of time), while also running the risk of wearing myself down physically or energetically.  

The recording of the note assignment establishes the record of ownership, but it's really your operating agreement that binds the partners to performing from a financial perspective on the note after it has been purchased with regard to paying for expenses like professional services and such. 

I started at age 38... now we have two SFR and two duplexes free and clear plus one SFR and one eight-plex financed with conventional loans that are performing well within the perimeters of the 50% rule.

The previous owner will be of no help because it is not uncommon for banks to switch servicers to handle the non performers.  

OR you can get approved and inspected to perform them yourself in a room with locked file cabinet, etc.