But, from this thread above, I'm wondering if not having Balance Sheet a big deal? 

How do you balance these considerations when choosing a location? 

Sure you could do a money market or put it in an ETF or something, but this is one of the options where the balance "can't" go down or is extremely low risk while making a decent yield.

Cash flow, equity growth, or a balance of both?

If the taxes are killing your cash flow, you'll need to either negotiate a lower purchase price to offset the tax burden or budget for some property improvements that could increase rental income and help balance things out.

You then draw your HELOC balance as the down payment for the flip.  

The bids I won, are down payments on property that has "small" balances under $20K but I do not see how this is legit. 

I want to strike the right balance between transparency and professionalism.Appreciate the guidance—thanks again!

Multifamily investors usually look to balance risk and return - usually picking either B or C neighborhoods to buy rentals in.

We have a partnership entity, so it has to file separately and needs balance sheet accounting.