I have all the income and expenses.

Insurance-  we had 18 months of full lost income coverage.  

Transcribing transactions from bank statements, posting transactions to the correct accounts, and then manually creating an income statement, statement of owner's equity and a balance sheet is a fairly time consuming process and I have not been able to keep up with the book keeping between my regular work responsibilities.What accounting software do people recommend? 

•Verifying the buyer’s ability to repay (documenting their income is key).

Diversification into multifamily also lowers risk compared to a single rental, as vacancies won’t affect your income as drastically.3.

@Alex MessnerIf you're weighing whether to rent or buy with significant student debt, it’s important to consider your debt-to-income (DTI) ratio and how it impacts mortgage eligibility.

My plan is to funnel the rental incomes from all three properties, along with my W2 income, back into the HELOC while covering all expenses from it as well.

Since my adjusted basis is about 50K, am I going to have a $250K gain on my income taxes this year?

Getting a property with a partner / friend will not help you from getting hosed on taxes.I wouldn't move forward - You mentioned beng a high income earner so your hourly rate is very high.

Plus the 20%-30% more in gross revenue just goes towards utilities, furniture, etc.