Bottom line would have me cash flow $800-$1000 after all said and done.2.

If you are short on Capital, but heavy on sweat equity you want to play to your strengths, so using the banks Capital while you force appreciate a property you live in is a good way to build equity.  

Property is located in Illinois.Here is where it stands as of now:- cash out refi about to be complete.

Small multi family is generally the most attractive asset class for out of state investors here as it provides a nice balance of cash flow with reasonable purchase price

Purchase price: $75,000 Cash invested: $125,000 Concrete House 4 Bedroom 1,700 Sqft. all Renovated, in a 5,000 sqft Lot.

I may be overthinking this - I've just never had this much cash on hand and it makes me a little nervous!

.- The partner brought in a cash contributor for his portion (let's say A, who got 50% of my partner's profit, basically 25% of the profit) to the deal and put a lien on the property.

This may affect your ability to hit a desired cap rate or monthly cash flow. 

Profit DistributionInvestor Contribution:Labor and Materials: $70,500Upfront Cash : $40,000Total Investment from Investor: $110,500Profit Above $180,000:Low-End Profit: $97,300High-End Profit: $120,800Profit Split (50/50):Investor’s Share of Profit (Low-End): $48,650Investor’s Share of Profit (High-End): $60,400Your Share of Profit:Low-End: $48,650High-End: $60,4007.

I manage two single family residential, that are low maintenance and collecting 10%-11% cash flow.