Do we have to the give the tenant a chance to correct the violations of the lease. 

@Peter Moser ...its the same thing as far as I can tell, PITI is probably the correct acronym.

With appreciation, you won’t be able to pull your money out for a few years at least even if you bet correctly on the market.

Suffice to say, the deal is off and the bank is going to begin foreclosure process and most likely open bidding to the public I reached out to the bank, and they mentioned I could potentially “buy the note” from them so at least I could secure the property for my church.

Your thinking about that work is close to correct. 

Zelle .com has partnered with over 30 banks in the U.S. to send money to individuals regardless of who they bank with and the funds goes right into your account.Just make sure you have a unique email or phone number so your tenant can add you as an contact to pay you.After the setup of your chase account and the activation of quick pay, test it yourself to ensure it works correctly (which it would) try having someone you know send like a $1.00Hope that helps...sorry for the long memo...

Im wondering if my numbers are correct and what I should be looking out for.

It seems you can still cash flow if you run the numbers correctly, I just think the ROI isn't quite what people are looking for. 

There are a lot of factors to consider, and I would recommend flushing out the taxes with a CPA the first year to make sure you sent everything up correctly and don’t leave any money sitting on the table.

If I am correct, it is also not allowed to invest an IRA in an in-laws deal either.