Quote from @Carlos Lopes: Gross income doesn't matter.This is the number most people post, and it's 92.7% useless.What you need is NET income, meaning the money left over after all expenses, and that should include a dollar amount for your personal time spent operating the business. 

Also, depending on your long term goals, transitioning part of your portfolio into more passive investments might help reduce operational stress while keeping your equity working for you.

A lot of investors have great success when they start with a deal that has lighter value-add potential and use that deal to learn how to operate a rehab.

That's really cool and I suspect my dad mentioned our operation out in KC to him.

Converting debt to equity if allowed by the operating agreement is not indicative of a Ponzi Scheme.  

What tools have worked best for you to streamline operations? 

As an owner-operator you will be able to screen tenants a little more carefully than a PM typically does in my experience. 

You're planning to operate this as a STR/MTR.

Find GP’s who are pretty transparent with things like monthly financials, monthly summaries of operations, etc.

We operate primarily in the Southwestern US and New England area.