Add all those up and you have the amount to allocate for cap ex.Many people use a much simpler system.

I could pay off the HELOC in 2 years but that would require me to allocate 100% of the cashflow from both houses.

Earning Michigan investors phenomenal ROI's and building portfolio leverage through proper asset allocation.

An LLC offers more tax advantages and greater flexibility when setting up a JV in terms of allocating income among the Partners. 

Dividends are paid as normal.This analysis used a policy I own which allows non-direct recognition of policy loans.When repaying policy loans, there is some additional "wiggle room" to allocate part of the repayment towards the purchase of additional paid up insurance, thus increasing policy values beyond these illustrated rates.This is the "banking" aspect of this strategy.

I'm considering selling a home I own as a rent-to-own (lease-option), and depending on the tenant I'd be willing to seller finance on the back end.My question is about "rent credits" - allocating a portion of the rent to buy down the purchase price.

If you live in part of it for two out the previous 5 year period  you will be able to take out the gain from the allocation of the portion you lived in (up to 250K if single or 500K if married) tax free!.  

This would allow money to be allocated to hire a "highly qualified" person to do the job in the event something happened to one of us.

Truth is...I don't have time to allocate to doing those things and be effective (or perhaps in part because I'm lazy, sure).

Brandon, I would have 2 businesses, the properties you hold are yours, you have had them for a while, keep the flip a separate business with your partner. nothing wrong with a 50/50 deal, i am just starting a flip like that, i partnered with my Realtor/ PM, i am the money and she is taking care of the rehab. the property is 3 hours away from me and i will maybe go out there once or twice a month. i have no problem splitting the profit with her. and as far as the assistant, you may find that the flips will take up more of her time, you may want to come to an agreement as to her time allocated to each business. that will be the toughest part, she will be swamped with things to do that adding her to keep track of her time of what she is doing for both business is asking a lot of her. if you find a way to do that, great, if not maybe an agreement that the flip will pay say 30 hrs of her time where your holds will get billed 10 hrs or whatever.