Instead of me writing for hours on BP I figure you can help out by chronicling the process from start to finish.  

Guru's teach it, people write about it in forums, blogs and articles. 

Is there anyway to write into the contract that if the bank decides to call the loan, then you (the buyer) promise to give the property back to the seller, at which point it's possible the loan has been paid down depending on how long you've owned it?

I know it probably fakes out the little old ladies but I can tell you did not personally write it.4. trying to sound folksy not professional..

I wanted to clarify that one needs to have a rental property, with claimed income, before you can write off expenses associated with it like travel (gas or airfare) to check on it, correct?  

Important to remember that what you put in writing will be seen and memorialize for decades.

I think you should determine what you need done, write a scope of your work so that it is very clear what you expect and the cost of material needed to get that job done.

The mortgage debt can be discharged as a function of the plan which means the debtor no longer personally owes on the debt.  

I provide a complete acquisition and management service, covering the following.Pre-purchase inspections to determine repair/upgrades needed.Coordinating renovations and preventative maintenance.Tenant screening, writing leases, rent collection.Payment processing to vendors for repairs & routine property maintenance such as air conditioning, pest control and lawn care.  

Also I recommend finding a mentor who can advise you, start setting up your business by writing an exit strategy/ overall business plan.