Any positive cash flow should go towards paying off debt.

There isn't enough cash flow in these deals to pay the mortgage, monthly expenses and the HELOC that I'm trying to leverage against.

If you were able to build equity over time, it could be smart to sell, pay off your loan, and use the money for another venture (flip, investments, etc) if it is truly bleeding you out.

In my firm, you would probably pay around $3,500 for this tax preparation, including Form 3115.

15% down with no STR experience - you're going to have to pay a price for that.

What would I need to do to structure the note in order to have a note buyer come in and buy the note or buy a partial enough to pay off the 215k at closing and still have some difference coming to me or the note revert back to me after the partial was paid for. 

Fix the problem and make them pay for it.   

What if a tenant fails to pay rent, leaves $2,000 in cleaning and repairs, and it takes another month to rent?

Example, a short pay history - non-redeeming factor, a 25% down payment, a redeeming factor to counter the short pay history.

Instead, he said to borrow the money from a person from Canada and pay them a dividend on the borrowed money.