I think the first step would be to educate yourself on different vehicles that will allow you to invest from afar and then find the expert sponsors in each of those to help you allocate your capital and achieve your goals.

I was hoping someone here could talk about their experience being a realtor and wholesaler, it would be good to know how much time/effort you allocate to both sides of the business, when/what you have to focus on, and if you were in my shoes, how you would play your cards.I do business in the Northern Virginia Area by the way. 

Therefore, although the bill will be seperated by the two meters, I do not have a process to allocate this cost to the tenets on a monthly basis.Has anyone dealt with this in the past / what would be the best system for having my tenets pay there monthly water bill?

I'll definitely do that right NOW and adjust my starting point to allocate half to a "rainy day" scenario.

It will take a long time before you see your money back if you ever get it back.With that said, things are done, You and the partner may need to file a partnership return where you and your partner would get an allocated share of income from the flip.The income would be subject to federal income tax, state income tax and self-employment taxes.

what percentage of rent is allocated to: Vac, Maint, CapEx?

Based on 50% of your rent going for taxes, insurance, maintenance, property management. and vacancy allocation, you would have a net income of :8500/2 =4250 x 12= 51000 annually divided by 350000 invested =14.57% this however is only the beginning of your evaluation. you now must consider the market that each of these properties is in and look at vacancy rates, crime rates, current rental rates, quality of the leases in place, and deffered maintenance.

The entire increase ($15K is allocated to the 1st TD)Except now, B of A will not agree to MORE MONEY.

You can experience conflict contention on multiple fronts... like property selection, your management time, capital contributions, asset resource allocation, etc.

Both of these will be allocated depending on your personal/business usage percentages.One thing no one has mentioned is something called the Lease Inclusion amount.