I pay 1,300/mo on the mortgage and he’s going to pay me a 600/mo flat rate.- What are the legal, tax and other considerations to take into account when doing this?

Population 'growth' is relatively flat over the last 30 years and changes to the macro economy really don't impact these rural towns like they do in the cities; but there's always the worry on the micro level of the railroad depot closing or a processing plant moving out of town.   

@Chris Seveney@Bruce LynnI wish I could post a photo here... basically it’s not land locked, it appears to be flat land and not in a flood zone.

I own a two flat in Marquette Park and have long term tenants  since 2007

A flat-fee listing service just gets you listed on MLS. 

But I have my margins set flat for all loan types, so in doing that I'd price myself out of being able to be competitive in fnma/fhlmc/fha world.

I own a 3-flat there, and I see 3-4 units with decent cash flow for <500k come up every couple months.

@Greg KristyMy state has very strict rules about price fixing (antitrust) and believe it or not if I could afford to sell houses for 2%, a flat fee of $500 or moms baked apple pie,  I would do it and slit the throat of every other brokerage around.

Loans are like baking a cake. 

And color-matches from someone who does this professionally are way better than some kid who's received a few hours of training at a chain store.Home Depot, on the other hand, fell flat on its face during this project.