You will be researching your own rent levels, your own vacancy, your own landscaping budgets, your own repair estimates based on unit condition, etc.  

He basically made up numbers based on what he needed.

I would greatly appreciate any tips, recommendations, or cautionary tales you can share based on your own experiences.Specifically, I'm interested in learning about different creative financing methods, potential pitfalls to watch out for, and any legal or financial considerations that I should be aware of before proceeding. 

Without a few base hits you won't catch the investing bug and win long term. 

Appraisals are based on comps so probably negligible value diff.  

I would even obtain a COFI arm permanent loan where the payments were based on an interest rate lower than what the market rates were.

From my perspective, based on my experience and research, here's what I think.

For those unfamiliar, these structures offer varying commission rates based on the sell price.

Your carrier can also put in through his union to have a box added to his route because he is paid based on the numbers of boxes he must deliver to.If they press you for more information tell them you're renting out the attic/basement and it needs its own address for mail.

So, step 1 is to communicate and to apply any late fee after any grace period passes.