@Hector Ortiz, the "missing cream" is that if you want to refinance it (or sell it), it WON'T appraise at (hardly) more than they've already made you pay, which means whatever money you put into the deal, stays in the deal. 

Legal and accounting fees and Syndicator fees on top of paying RETAIL for everything..............all i can say is WOW.Could this mean the top of the market is here.  

The agent portion would simply be a means to aid me in my overall goals.

Note that the fact that it's public record does not mean that the municipality needs to make it easily accessible.

Ed Matteson when you say inspections do you mean yearly rental inspections through the town?

When you say that refinancing limits your ability to write off interest, do you mean that you won't be able to write off the additional interest increases or do you mean that it will also hinder the previous amounts as well?

Anyway I'm making right around 550 a months after expenses, in the mean time I was working in a restaurant that I opened with my friends, I owns about 30% of the restaurant and I make right around 8000 a months from revenue and salary, I was working around 70 hours a week.

That means the govt. will possibly step in with disaster relief.

And working means blowing cold air.

I might suggest offering a lower rent than what they pay month to month as an enticement for going long term (and that could mean either offering a lower rent than what they pay now, or raise the rent if they want to pay month to month).All those little decisions you'll just have to feel out what works with your place and tenants.