They sought basically all the same financials that you provide for a conventional loan.

As a landlord, you want the lease to be as landlord friendly as you can get, not neutral; the courts are sufficiently tenant friendly so you need to get your advantage in  place without hoping the courts will see things in favor of the landlord.

it sounds like you basically said move forward with the condo then sell it when necessary correct?

Not that it has to be that way but it's a safe harbor.On #3 again, this is very basic information that a competent QI should have at their fingertips.

We pay 20% annualized, so basically we pay them 1.67% per month while we have their funds. 

I’ve listened to a few audio books on investing and real estate and I’m trying to soak up as much information as possible and basically just looking for a little guidance on how to get started

In both counties, the courts do not make public record of when the homeowner receives a Notice of Default, ONLY when the receive Notice of Trustees Sale.

As for the state of Alabama, the courts have stated forfeiture provisions are not favored but will be upheld when the lender-borrower has actual or constructive notice that strict compliance w/ the terms have been established. 

All the agents/brokers in this tread tell you basically you are missing out.

Often such a court case may get them to pay.