I lost a loved one last year and it was a wake up call - life is too short to not have ANY work/life balance.

. #1 - Charleston, SC area - Worth: ~800k / Balance on mortgage: $230k / Excellent rental history 5y+ @ $3,300/month / Divorce buyout #2 - Syracuse NY area - Worth: ~600k / Balance on mortgage: $185k / No rental history (just inherited with brother) but in a desirable area so local realtors say it will rent easily in the $2,000-$2,500 range / Brother is partner#3 - Kansas City, MO - Worth: ~200k / Balance on mortgage: $100k / Excellent rental history 4y+ @ $1,200/month / Divorce buyout First choice is to pay off partners in a clean lump sum now (one wants to buy ASAP in another market, the other wants to build ASAP), but I'm open to brainstorming for options.I live in Portland OR and rent my primary address. 

We did it differently so our books were different but I would not book it as a journal entry but as a sale of the asset but not close it out on the balance sheet.

I also do buy and hold some on my own and in a second partnership, structured similarly.One thing that helped also is that as we started to scale up a little through the first round of refinancing, we shifted to 100% of cash input from my partner and 0% from me to adjust the balance a little.

It's about finding that balance between patience and seizing the right opportunities.

The realization you had during the pandemic about the importance of work-life balance is something many people resonate with.As you embark on your journey toward purchasing your first cash-flowing rental property, here are a few tips to consider:Keep expanding your knowledge in real estate.

I typically opted for roughly 3 draws per deal, just to limit draw costs.Also, all of my lenders charged me interest on the full loan balance at closing, even though I hadn't drawn the whole loan (which annoyed me, but I get their perspective).So really, in my experience, I didn't find any to be "better or worse" they all seemed to have their own trade offs, i.e. more general accounting was easier for me, but higher draw cost.

It gets crazy, even six properties gets to be a lot of debt cards and balance management just to go to Home Depot to purchase supplies. 

Almost no one will do 2nds on those...so you got this huge gap between the balance and ARV....who funds that?

You'd need to ensure you electrical panel can handle the load and balance the water lines between the two heaters to do it right.