we have a "waterfall" provision in our leases that says payments are applied in a specific order 1) utilities 2) late fees 3) rent. 

Any idea on how I can do a waterfall projection?

Partnership operating agreements are very flexible.You could do a waterfall schedule for both allocation of income and capital distributions.e.g.1) You're allocated a cumulative fixed annual return on your unrecovered capital contribution (6%, 8%, 10%, you name it)2) Profit in excess of the fixed annual percentage return is split 50/50.Capital distributions could be something like: first distributions are to recover your capital contribution(s), then preferred return accrued to you, and finally the 50/50 profits.Food for thought. 

I will also use the BRRRR process on this one after 6 months of seasoning.I am looking for some advice or suggestions on how to calm my nerves considering that I will have to carry the HELOC and personal loan 6 months while waiting on seasoning.

I love applying very systematic ways to calm my brain and think rationally through a situation. 

It's enough to cover down payments on two more properties similar to the ones that we have been buying, however we are contemplating paying off one of our duplexes (about a $95k loan) and take a quick break from purchasing to let our finances calm down and deal with a bunch of repairs and other extremely busy life circumstances that we have going on.

Can’t wait to see how you bring it back to calm, in exchange those crazy colors. 

however its nice to have things calm down a little continual sky rocket of prices is as we know not a great thing either.. to much of a yo yo effect.. 

Literally my only issue with living in this house is the section 8 neighbor…I got the Mayor to send some people down to police the place and they calmed down but I had a house under contract right before that happened and ended up moving anyways.TL;DR: Should I shell out 8K to fix the roof on a house with currently minor and fixable leaks but with a roof that needs replacing soon, or should I just move again and risk having to put up tarps if it leaks this winter (Seattle).

Also, try your best to calm your anxiousness!