That is  even more concerning, since I would essentially be relying on him to pay the rent. 

You also have a down payment on which you are essentially losing money.

Essentially, the bank makes a loan for $100k and must hold back $10k in order to recover from the collateral.  

My amortization number came from splitting the principle of the loan over 30 years and then dividing each year by 12.

Knowing how to ensure the closing goes smoothly and quickly the FIRST time is essential.

And, if that increase in non-branded traffic isn't delivering results, then the added traffic is essentially worthless to you.I hope I addressed all of your questions.

I think he had owner finance on one.Take time to learn the basics and core principles.

You can get approved by showing bank statements and a proof of your taxes for the past 2 or 3 years.This is essential.

Questions:Are they amortized with principle or interest only?

It's certainly not a new or revolutionary concept, but again, the underlying principles behind understanding value aren't something that can be taught in a book, on a website, or through a seminar...it takes years of experience, hard work and above-average intellect...