We would ultimately not want my parents involved long term so they can recoup all the cash they have in the property. 

Ultimately, the choice will depend on your goals. 

I say this like I would say it to a friend.House hack is the ultimate start!

When I got started in real estate in 2014 and I was struggling with marketing I fairly quickly got really good at driving for dollars and researching properties and ultimately getting in touch with property owners and heirs.    

Consistent steady monthly income is our ultimate goal so we can achieve financial freedom and work on real estate projects without the loom of our own cost of living over us.

The decision to not make a capital call could ultimately turn the deal into a loser as the cost alternative capital might be higher.

Ultimately Im looking to build equity in the home to eventually leverage and purchase another property or sell and trade up (1031).

Give The Ultimate Guide to Grading Cleveland Neighborhoods a read.

Ultimately it is going to boil down to personal preference and what types of rentals you have (As well as how many).DoorLoopStessaLandlord StudioRent ManagerAnd of course the tried and true - QuickBooksAny of these will work for simple accounting/bookkeeping but some will excel depending on if you have short term rentals vs long or a lot of properties.

Hi Chase,It's ultimately a matter of leverage and risk tolerance, but if you only plan on doing one project at a time for the time being, using cash is probably the safest option.