Pay no mid to a legal shield letter it is just the tenant communicating with you on a lawyer's letterhead. 

I have to pay PMI.

Most of my tenants are cash paying (not S8) but I have 3 that are on S8.You can get close to FMR but I find it's generally not worth it.

I know here in TN that once you win a property the prior owner has a year to pay the taxes.

Where do you get the money to pay for the mortgage for those months it sits empty?

So location is a big thing, The better the location the more you're gonna pay which cuts into your income.Good Luck!

Take Home Pay:  Approx $105K/YearMoving to Colorado in the next 6-9 months Living with a friend for extreme discounted rate Own two homes, one in Colorado cash flows around $250 , one in Florida (property of topic) [Mortgage$3200 HOA $440]

If you are looking for ways to track/calculate principal and interest payments, you can use loan amortization excel template, plug in the principal amount, loan date, interest rate, and the number of years to pay and it will show you the monthly breakdown/details you need to track the loan.

My lawyer's team suggest that the former tenant may be too poor to pay.

If you can build AI to compile all information about a homeowner to score and rank homeowners based on their likelihood to be motivated I would pay good money for that.