. $1M will go to down payments and after the seasoning period is over I will do a cash out refinance and put that down payment money back into the $1M down payment fund so it will always have $1M by the end of the year. $4M will be my leverage to cover against emergency expenses including vacancy’s and will not be touched unless it’s last resort if I can’t leverage my assets.

I actually sell on owner finance but still need to track insurance and tax payments.

PS payments to contractors and other vendors require a 1099 for amounts totaling over $600.00 in 1 year. 

Unless you find a gem, most properties won't cashflow because of the low down payment (and therefore higher principle) and because of higher interest rates.

If so where would I get a lease specifically tailored to include payments through Airbnb?

You then can screen the renter, make and state-specific lease through Keycheck (another small fee), and collect payment through Stripe. 

We have about 100K in equity and have some cash on hand but not enough to cover a 20% down payment, loan costs, and rehab costs so the HELOC or second loan seems to be needed for our first deal.

Down here in San Antonio, most first-time investors I run into typically will have $50,000 - $60,000 in cash to be able to comfortably afford putting a down payment and having funds set aside for renovation cost.My question to you would be, how much funds do you currently have set aside for a real estate purchase?

This also allows you to obtain an owner occupant loan, which comes with lower down payment requirements and lower interest rates. 2.

You will need to get a great deal or put down a large down payment to get cash flow.