With that said, you don't want to get into the wrong deal just to call yourself a RE investor however the tools on BP, when used correctly, will keep you from doing so.     

From my understanding this is the rate when considering all associated costs correct?

@Inga FonderYou didn't tag me properly before so I didn't see your reply and question... :)If your new payment using IBR is $0, and lenders still want to use 1%, then that's an overlay to the actual guidelines. 

Also, to correct Paul Sian it's the Last Tuesday not Thursday.   

Thanks for the detailed reply, this is invaluable info.

They have the will stating them as the heir and have filed everything through their local county court in Massachusetts.The hang up, the title company here in Florida is saying that the property still needs to go through probate here in Florida which will take 8-12 weeks.Is this correct information that he will in essence be going through probate twice?

@Damon Pendleton proves it with his reply. 

Your lender is correct.

Beyond that, your tenant is somewhat correct on the issue of carpeting, the most you could expect to recover would be the depreciated value based on the expected life of the carpet.

I believe Ray is correct...once they turn the keys over, they have surrendered the property and all it contents.... you can do whatever you want with it.Abandonment laws are for when tenants just disappear and you don't get notified or keys etc..... at that stage you don't know what they are doing....they may show up again and wonder where all their stuff is....in hos cases, you have to store it etc.You spoke and witnessed the move out and got keys.... its back in your possession and you can do whatever you want