Hey, when I do my third home over xx$$ can we reduce the rate a tic?

You just want to be sure to buy a note with equity, and the risk is greatly reduced.

She is a public school teacher.

And, the name of your company pretty much says it all, it's not what you define as your business, it's what your business practices are and the implications of lending you hold out to the public and by advertising that you'll make loans or put lenders and borrowers together..I'd just suggest you cool the heels, find a good attorney who specializes in financial compliance and start over. 

You can then approach whoever placed the lean on the property for the details on that lien, and if they would negotiate a reduced payment on behalf of the owner. 

I currently am vp of sales for a Public Adjusting firm and I want to use all the money I earn from sales and create a second flow of income by buying single family homes and holding them. 

In the Rose City area of NLR, many of the homes ARE in a flood zone which, as I am sure you are aware, will increase your insurance and reduce your cash flow, which may not be that much of an issue for you with respect to how high your cash flow numbers are.Best of luck.

Am I legally bound to reduce his rent at all?

Even 10 miles away is only going to be a short commute.On the other hand, if students don't tend to have cars, then closer is better; or something on a public transport line.Regarding neighborhoods - if you are ok renting to men, then a well kept property in a dodgy neighborhood is ok.

A trip to the city to pull the permits yourself along with blueprints and anything else that is publicly recorded at the city, then a trip to the county will tell you whether or not they're going  be assessing any additional taxes and what the taxes would be after a sale of $X, then a title search to find any liens.