I will not comment as to the tax laws and underlying rules - that is a discussion you can have with your tax advisor who presumably you are paying to help you.What I will do is provide practical and business guidance on tracking time.Firstly, there are apps available that can assist with time tracking where you can specifically detail your time, who you met with, etc.

This would obviously reduce my cash flow on both properties, as I would be paying the minimum HELOC payment plus extra towards the principal to pay it off quickly.

We grew them in an environment where nothing required to be earned, everything was given simply for having wanted it.

If you gave the keys back to the bank  they simply would never deal with you again and I see that today even after 10 to 15 years from when it happened.

If they are not aligned then simply keep looking till you find one that is.I would look up NARPM and start with them..Below are some questions I would think would be a good starting point for you to see who really treats their company like a business or a hobby.My business partner is a regional VP for NARPM and I am happy to help if you need anything please reach outQuestions to Ask prospective management companiesWhat are your average days on market for vacant homes?

You will need to pay down the mortgage AND have the property appreciate to a point where you have access to equity above your current primary loan.

This simply means you have language in your lease that states the landlord is responsible for paying utilities up to a certain $ amount (let's say $100 for the sake of argument).

There's really no need to pay off your home early.

(If someone isn't paying rent, I don't consider their income - in the City of Portland, I can't legally.)

This capital call only makes sense if asset value appreciates in 1 year and after paying down debt, there is enough cash to pay investors.