Guys I read a couple great posts here about HELOC for self employed businesses were there are many write offs to show an income on a tax return.  

CA taxes residents on worldwide income but may provide a credit for taxes paid to other states.

I think the main thing is do you have a book keeping system in place that allows you to efficiently break out all income and expense from the triplex, especially come tax time? 

I have more bookings from Airbnb, but these are shorter (2 to 3 days) stays and represent 22% of income.

We'll cover 100% of the construction upto 65% ARV . no income and no doc .

Stessa is great if you are just trying to record income and expenses per property.It is not a good tool if you want to keep track of balance sheet items.Best of luck.

Any expenses and income are also based on the percentage of ownership and cannot change during the life of the investment. 

It seems like the income is significantly reduced when there is a mortgage but as a newbie I am trying to figure this out.Thanks!!

Ask to see the sellers Schedule C to see that the income reported matches the payment history.

While we do not see income from these properties and are not managing them we do have a significant amount of depreciation and losses that have been assigned to us and carried over from the past couple years.I am invested in some growth/equity focused projects already and am specifically looking in reliable income focused strategies that are tax efficient provided the losses I have from my family.