I’m looking for this excel file.

Keep things simple, do not create any payroll for him and focus on making more money.Now, if he makes $75k net, which is after expenses - then he needs to consider an S-corporation and W2 payroll for himself.Bookkeeping is simple, really: record everything he spends for business in any form that is simple for him: old-fashioned notepad, Excel or Google Sheets if he knows how to use them or apps like Expensify or TaxBot.

@Audrey XiDid some calcs in excel and if I paydown $12k loan in first 8 months, and CF $200/mo positive after.

However, I was just rejected for a used car loan because of my debt to income ratio....I have excellent credit - never missed a payment, but it looks like I have a ton of debt.

It seems like a great program and I was really excited to see Clarksville and Nashville having multiple census tracts.This should be a exciting time to invest with the news today of Nashville getting 5,000 amazon jobs for the operations center of excellence with average wage of over 150K.Map of QOZ's (Qualified Opportunity Zones)

There are a ton of ways to get business, and everybody excels at different things, Maybe you love presenting, then buyer's or seller's education clinics can get you tons of contacts and leads. 

CapEx is included, but is considerably lower because it's a very new, excellent condition property (I considered things such as paint, appliances, flooring that would be needed while we still own the property).Purchase Price $350,000Purchase Closing Costs $1,300Total Project Cost $351,300ARV $350,000Down Payment $12,250Loan Amount $337,750Amortized for 30 yearsLoan Interest Rate 4.6%Monthly P&I $1,731.46Total Cash Needed $13,550.002% Rule 0.85%Initial Equity $12,250Monthly Income ($1500 per unit) $3,000 Monthly Expenses (Including CapEx) $2,607 Monthly Cashflow $392 Pro Forma Cap 7.28% Total Cash Needed $13,550.00Cash on Cash ROI 34.73% Purchase Cap Rate 7.28%Est Vacancy $150PMI $200Est CapEx $63Insurance $80P&I $1,731.46My only major concern is that I'm not meeting the 2% rule (and just short of 1%, even), but this is probably the closest property I've seen, and has a significant cash on cash ROI.

Llewelyn, excellent feedback and I should have included your first comment as a 3rd caveat; "I would add to your requirements that the Investor does NOT need the cash flow" - which I meant to say.People automatically surmise that zero cashflow for the time being translates to speculation.  

Cozy, quicken, excel

My gut tells me that she ought to market the property immediately FSBO as a distressed property with excellent investment potential.