Dont distribute anything until your accountant does the tax calculation then reduce your partners final distribution accordingly 

Will the banks see the seller financing debt when calculating our DTI for the home equity?

To invest in real estate, set clear goals, consider your timeline and risk tolerance, learn about financing, analyze deals using rental property calculators, consider house hacking, network with investors, create a financial plan, stay educated on local market principles, and start small with a single-family rental or duplex.

These product looks at your deposits from your business and calculates your income that way. 

An easy way to calculate is to take the sales price and multiply by .97 (if there is a 3% seller concession).

I found a calculator but it won't work on my iphone.

I am using all his advice for doing due diligence on properties before buying, using the deal calculator to run numbers and looking for good market strategy areas. 

More advanced financials include IRR, Cash-on-cash return, Cap Rate, 5 Year Appreciation values, and all other high-value STR metrics for a solid long-term investment.I helped create the calculator, so if you have any questions, please feel free to reach out.

However, I’m a bit confused on what underwriters consider income when calculating DTI.

So make sure you calculate the tax using ARV and not the purchase price. 3.