In our current market, most units would be leased within 30 days so the landlord would only get the security deposit and not be able to sue for the rents based on whatever number of months and years remain on the lease. 

For example, $400 (+83.33) the first month (remaining balance 19,600), then next month would be $392 (+83.33)(remaining balance 19,208), so on and so forth?

I want to pay off remaining balances on them and switch to conventional mortgage.

Once this happens, the remaining brother will be unable to stay in the property since expenses are too high. 

Once this happens, the remaining brother will be unable to stay in the property since expenses are too high.

If you don’t need the 40K back then you could still benefit from the 0% interest on the remaining 65k as long as you want to… 

My wife has about $50,000 in student loans remaining.

The tax remains deferred until you sell. 

Personally I'm remaining flexible and not passing up deals where the numbers are working.  

Valuations may feel high, the cycle may feel stretched, but in the end, it all comes down to the work we do when first buying a property.We want to buy in areas that will remain as robust as possible, regardless of the climate, and buying them at a price that makes sense within our calculations.