Hey David, I have a CPA I use who does an outstanding job and knows real estate pretty well.  

I keep track of checks and dates received.I use a SUM function to see how much is owed, how much outstanding and total interest rate.I can color code redeemed properties a different color.It is super easy to customize. and once you set it up it automates everything but entering the data once you get a redemption check or a deed.You can copy over the tab to a new one and start a new year with all your formulas intact.

That's an outstanding rate!!

The six month standard also went away many months ago for Fannie.Now, if you own 4 or fewer financed properties, the reserve requirement is 2% of the outstanding balances of your investment properties.

There is a secondary market for performing HML and private notes; they generally pay less than the outstanding principal balance.

It is the greater of either 1% of the outstanding balance or the reported monthly payment on the borrower's credit report.So, deferring student loans to be able to get an FHA loan will no longer happen.What you can do is go in with a co-borrower/partner/parent that will increase your borrowing power.

Sounds like you have purchased your units without any initial investment which is outstanding but virtually impossible in So Cal. 

your ability to pull cash and pay down the HELOC will depend on your value of your "investment property," that you're currently buying after you fix it up.If the value is high enough you'll be about to get out a new cash out loan that is high enough to refinance your current outstanding debt plus provide sufficient proceeds to pay down or off the HELOC so that way you can rinse and reuse it again on a new property.As long as you gauged value correctly on the buy side of the investment property you should be fine.As for how DTI is calculated on the HELOC, it depends on who you go to for a loan but typically we'd take the current min monthly interest payment on your current monthly obligation.Some banks had higher hypothetical payment models (assume 1% min monthly payment on the limit of your HELOC) which threw your DTI off, just try to avoid banks like this...

Property 5 The initial term of this Straight Note Agreement shall be for the term of Six Months (6) (the “Initial Term”) commencing on the date this Promissory Note Agreement is executed by authorized officers of XXX, LLC and Lender (individual name)Borrower shall have the right to prepay all (but not a portion) of the indebtedness evidenced by this Note at any time, by paying the Lender an amount equal to the sum of (I) the principal balance then outstanding and (ii) all interest accrued to the date of such prepayment.Lender and Borrower intend that the relationship created and evidenced by this Note and the Loan Documents shall be solely that of debtor and creditor.

Work was completed but never paid for so the lien is now outstanding.