The rents for my partners Class B & C assets remained steady.

the markets are cyclical, I will only buy with a Minimum 40% upside, generally 50+% ARV, and I never borrow more than 60% LTV, this allows for a 20% market drop, and i still have a remaining 20% if i need to Refi.  

I live in traverse city which is a little inflated these days.

In fact tenants should never be on a term tease if a landlord wishes to remain in control of their investment.If you are happy with your present lease simply modify it to reflect M2M.

@Isiah Ferguson If anything, it's the credit score that is inflating the interest rate.

3) If an outstanding balance is remaining on the senior lien after a "leftover payment" from the junior lien, what are the steps to contacting and paying off the senior lien once I purchase the property at auction?  

Economists were warning of an inflated market a year ago.

P&I payment is $330 dollars.  13 years remaining on amortization schedule.  

The ones I research charged the 10% for collecting the rent and handle calls during 9 to 5.BUT charge extra for - leases, re-up leases, calls after hours, lawn service, snow service, court service, attending when a contractor shows up, percentage of contractor invoice or using family member's services with inflated prices, tenant showings and necessary permit inspections.....all extra fee!

Backed out of inflation, that $1M would be equivalent to $250k or less in 30 years.