Wave Accounting is a good free alternative and eventually when you scale up; the transfer to QBO or Xero is relatively painless if you just do an opening balance JE or other methods.

4) If bank were to foreclose on this property what method would they use to remove this lien?

The bigger companies tend to do more research and are more slow and methodical in their decision making process.As an example for retail even if you get Starbucks wanting to go on a retail site from the first time contacting it can be 6 months or longer before they open in the space.

From what I have read, wholesaling and lease options tend to require little money to start, but I also know that the lease option is a fairly advanced method.

After securing each nearby lot for $35,000 apiece in the same neighborhood we can move and get the homes turnkey ready for less than $60,000 more a piece.

The problem is how to make a homeowner feel secure that I won't flake out on the mortgage payments in the future, thus damaging her credit.

All the ideas listed here are great tried and true methods.

My 5 year goal is to make enough in passive income to quit my job in order to spend more time with my two kids, travel more, and secure retirement. 

I’m trying to understand how to structure my first deal to pay for a rehab (1st attempt at BRRR) after I secure a property. 

If spreadsheets, perhaps different tabs or another method.