I'll have to strike a balance between personally reaching out, and then falling back on more impersonal forms of communications if he does end up getting upset. 

Is an interest only payments so you pay interest only for 11 months and month 12 1 balloon payment for the balance. 

I'd be happy to share any other details about our balance sheet or 'big picture' if you think it's relevant in terms of evaluating our options with this property. 

Wanted to see what the community's opinion is on it and if they feel it could be a good idea.General Info on my situation:Primary vehicle: No payments but can't use as Uber (it's heavily modified)Debt: ~9k in CC (0% apr/21 months due to balance transfer)RE Goal: Build capital ASAP to put myself in good position to purchaseOverall Budget: I make good money and after bills/expense I still have a lot left overI was thinking about purchasing a economical vehicle to double as my daily driver and Uber on the weekends for extra income to put towards RE goal.

So, if the card is $500 make sure you use less than $400 on that card during the month and when you make your payment pay it down leaving about $50 - $60 balance.

If you take the estimated appraised value on your house and multiply that by 80% (most typical), 85% or 90% (usually the maximum a lender will go and the higher Loan-To-Value you go, the fewer lenders you have to choose from) and then deduct your first mortgage balance to see how much equity is there to lend against. 

When you are opening the deposit account for your plan, some banks have minimum opening balances in the $25-$50 range.A few ways to work with limited 401k asset balances are to use non-recourse financing (whether from lending institutions or from private lenders), partnering with others, and investing into different asset types.

In a lot of cases placing an tenant and managing the property could be 50%(or even more) of the profit from the property.Even though it is costly from a landlord's point of view, it doesn't mean a property manager is making a ton of money.The first step is determining whether you can actually make enough money doing it and how many units you would need to manage to get a good balance between scaling your business and giving customers/properties enough time. 

I don't think this is true....as most foreclosures auctions I have seen start the bidding with the amount of the loan....so the story would be that the loan balance was less than $1000.  

Remember that a 30 day notice is really a rental period so serve it before the first of next month. they will have the balance of this month and the rental period of may with the notice.