I track the principal as a Liability account in Xero, and whenever I add it to a report, it always shows the current balance, rather than the change over the chosen time period (like with expense accounts).  

In addition, they connected me to the preferred lenders who also helped with closing on the property within a short period time.

It is common for investors to bring in additional signers, often referred to as credit enhancement.

Your client should consult a real estate attorney to draft an agreement with the ex and ensure there are no legal or tax issues, especially since this is an investment property.

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

Ensure you understand local regulations regarding permits; it’s usually a good idea for your associates to form an LLC for liability protection, but individuals can do renovations as long as they pull the necessary permits.

It sounds like you’ve got a solid foundation with your rental property, and I love the ambition behind your plans to build a property management and maintenance company—it’s a great way to take control of your investments while creating additional opportunities.Best of luck to you! 

I've got about $525K in equity in the property, but lenders have told me that I cannot get a HELOC to access that equity for additional purchases because the duplex was financed as an investment - they have said TX law dictates that HELOC can only be used on primary residences.

As a licensed real estate agent and contractor, I speak the language and can guide you through the process to ensure everything runs smoothly.

(replacing the original HELOC debt) However whether the interest for the  additional $200kish of loan  will be deductible will depend on 2 things: -How were the renovations paid for?