Make sure to get a pretty tight tech stack figured out, especially to track your income and spending. 

@Frankie PaternoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

She can file for free likely but not sure she is smart enough to figure that out. 

Still figuring out how the technical stuff on the forum works but thanks to everyone that replied to my welcome to BP!

I'm having trouble figuring out how to do this in excel.

If you want to figure out the value logically, you can create a spreadsheet that will show your cost of financing and principle paydown on an annual basis to figure out the break-even date between the seller-financing price vs paying market price, but with bank financing.You mentioned a 40-year term, but is there a balloon?

That's why I'm trying to figure out who's right and who's wrong.

My CPA has a couple LTR's, so I figure he must be on top of this.

If the tenant setups up payments on Zillow, it does notify you if the rent didn't get paid on first, for any reason, so you can reach out to tenant and figure out a solution right away.  

I have been lingering a few days, and I figured I should make a post to at least introduce myself.