My understanding is the former “whole note” holder retains the mtg/security instrument and bought only the “income stream” without an assignment of any mtg/security.  ....so my assumption is that you could not foreclose, but only your seller of the partial.....but I could be completely wrong. 

I like you're suggestion of a large down with a stream until I can refi out.

Plus rent is not a guaranteed income stream as Erik pointed out people think so but during the GFC many folks with max leverage had vacancies and lost their portfolios I know people think rentals are immune but they are not. true financial freedom Is ZERO debt rentals in the rental concepts.

Since you no so many agents across the US, you can use that network for referrals as an additional income stream.  

Hello,We own 2 SF houses on larger plots in Tacoma, WA.I have been considering building second houses on each plot and messaged the city about it. They did not think the lots would support another house, but would sup...

Hello,
We own 2 SF houses on larger plots in Tacoma, WA.
I have been considering building second houses on each plot and messaged the city about it. They did not think the lots would support another house, but would...

If you never build up anything (multiple streams) and only count on your job then you have no options or freedom.I think to each his own.

Then you'll have an endless stream of potential partners. 

The homes were built in 1990 and I purchased them in 2004.I got a quote to cover each of them separately: full dwelling amount is $333k, 15% or $50k deductible, rent coverage $75000.

If permanently affixed to the realty you probably need a standard rental dwelling policy.Flood:  A mobile home policy may cover flood damage if the mobile home can be towed out of a disaster zone.