I analyze intensely the ARV price points in my target markets for at least 9 months before I buy. 

There are some major developments continuing construction, however; the price points are upwards at $290,000 or higher and rent rates being advertised at $2,000 a month.

So far 1 month later.....1 property met my criteria. 

I see that it has been 3 months since the original post; how are things going?

Can anyone recommend software which would accept monthly payments (from me to seller) and create proper 1099 forms for tax purposes at year end? 

I do either 12 month balloon notes or notes where I get paid monthly. 

However generally from working with 2-3 other PMs in the west coast, I am 100% fine paying more of a premium each month for a PM that is transparent and is able to give more time to communication.

Paying $1,300 a month in rent.

If you do want to go this route, make sure that the underwriting of the investment property pays back both its mortgage and the monthly HELOC.

What is this, about a monthly payment of $800?