Under this contract, accrued interest debited on a day will not include interest relating to that day.3.

Interest may or may not accrue for those few days, but 'a few days' or even 1 month is a heck of a lot better than months and months and years and years that you're on the sidelines waiting for that perfect deal.

There are certainly items on a balance sheet that can be red flags - accrued expenses payables (how old are they?

Now my primary residence has doubled and I took some cash out to pay off the debt I accrued so that I can be little comfortable. 

Based on your description, he is probably accruing significant code enforcement fines from the City of Indianapolis and/or paying property taxes on a property which is falling apart - perhaps you can remind him of that and perhaps quantify it for him, and that may make him more "motivated".By the way, just curious  - in which neighborhood is the property located?

I would just recommend paying off the debt that you accrued with the 20k in improvements.

All those costs continue to accrue while there is no gross rental income to offset them.Good luck.

That is exactly the sort of localized info I'm trying to accrue.

My goal is to accrue as many doors as possible - as fast as possible while maintaining my full time job for the time being.

@Jose Young Florida tax liens pay out 18% simple interest per year and it accrues monthly @ 1.5%.