If just the down payment, do you have the primary lending lined up?

Is the 1% computed on the asking price or is it calculated on asking price minus down payment?

you would be changing mortgage payments from roughly $955 to $1432, another $477. with taxes and other expenses, could a buyer make enough money renting it to be worth buying the property for the extra 100K

They owe the rent payments to you since you now own the property.

I have about ~40K equity in the rental and owe about $157K on the loan, but the monthly rental income only covers the mortgage payment + insurance + taxes + an additional $75 a month, which I put aside for repairs and anything that may come up.  

Even if you had 20-30, you would receive the bill, log in to your bank, set up the payment- done.

The borrower/ owner is MIA this is not the first time this has happened but he usually contacts me and gets his payment up to date.

But all they ever say is find the deal and we'll cut you X%...no paperwork, no written agreement, just verbal with the expectation of payment which leads me to believe that everyone is paying under the table.

@Noel Walton,Are the payments and taxes current?

Then, you miss a couple of payments and the seller wants to take back the property.