To be honest, I like J Scott's approach for 2 reasons. 1st, it's easier to drill thru the COGS details since everything is posted there, 2nd, you can run budget vs actual if you plan to utilize the Budgeting feature to track your progress directly from QBO.

Are you targeting single family properties or a multi-unit? 

For one, we want to fund you, it's "easier" than doing what you do (finding the deal, getting the funding, making it work).

I know that market very well but it would be easier to help you if you have more precise questions and also if we know what your objectives are.

Our clients have found them to be much cheaper and easier to work with then the alternatives

Having a professional-looking sign could definitely help you stand out from the crowd, especially if you’re targeting a more discerning audience.

You need to do an inspection to itemize his security deposit, and the less crap there the easier to see the true condition. 

The low purchase price of $93,000, combined with the possibility of adding value through targeted renovations, made it an attractive investment opportunity.

By making targeted upgrades and ensuring the property was well-maintained, I was able to enhance its appeal to prospective tenants, thereby increasing occupancy rates and rental income.

For me I use; 2nd lien on target property or cross collateral property deed of trustJV agreementPromissory NotePersonal GuaranteeMay be over kill, but I am fine with it.Also if you ever foreclose on a property that has enough equity to cover your loan I assume the 1st lien gets paid and then the rest would go to the 2nd position or is that not correct?