And if I decide not to sell the property after 30 years, I would still enjoy significant positive cash flow (due to the full debt repayment), and owe a property with 100% equity in it.So, I know that a vast majority of you guys preach the importance of cash flow, and I’m not trying to convince anyone of the opposite (I’m just a beginner trying to truly understand things).

Since I'm still dependent on my W-2 income, I'd like to start Part Time as a Listing Agent, meeting customers in the afternoons and on weekends (as well as hosting open houses), until I get a few wins under me - then I can go full time.

So you better have various insurance companies there to fight the claim so you don't have to hire your own lawyer.10) If you are mortgaged on the property, your lender will require hazard and liability on the property itself.11)  How many more rentals do you plan to get, as that will figure into the equation and how quickly?

Given that the bank has not given out the full value of the loan yet given the 7 year time frame.

You may feel you are the smartest kid on the block and that may even be true however, you cannot increase another person's risk and shed responsibility to another without their full awareness and acceptance and there are just too many holes in your permise which is why it is illegal. 

Lesson learned.I work full time, while my wife works part time. 

HOA-$410 MONTHLY-OUCH Current I work for a fortune 50 But plan to make real estate my full time after 5-7 years.I’ve been a landlord before for 12yrs went through divorce and starting over.

It can trigger the "due on sale" clause and a lender could demand you pay the loan balance in full.

@Jason DiClemente Do you have to purchase a house in full before you can Rehab?

If you're buying at full value it doesn't matter much.