Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

This is after covering all expenses and setting aside a certain amount for reserves to cover future expenses like capex or vacancy. 

It's that simple.Doesn't hurt to have real hardwood floors and A/C as well.

We invested into the property and came well ahead of the local market.

This is not going to end well.

Set a bunch of them with peanut butter.

If My father and I use the heloc to fund the repairs; I'm concerned to have payments on a heloc as well as giving up all the cash flow for a period of time.

Well since your an attorney and have taken the lead..

Are you both friends and have unique skill sets and are breaking up the duties of investing based on those skills?

And private financing can be wise if you are a diligent investor, which it seems like you are:)*If I would have known then what I know now, I would have used my first loan to land the largest deal that I could have.