Finally, I usually will consider about a .5% appreciation rate per year for overall appreciation (non-cash benefit, but can come in handy down the road), increases net worth slowly without taxes.Hope this helps as well. 

@Jason SanMartinI would start by asking the wholesaler if taking his purchase contract with a non cash offer is possible.

Given your description I would follow through with the non-payment terms in your lease.

The loan can't be a conventional loan because any financing provided to an IRA/401k must non-recourse. 

So for sure if your leveraging C class rentals by all means they better cash flow other wise you will go under pretty quickly as they tend to be non liquid or you will lose money if you do liquidate as other investors are your only exit and they look at these the way all investors do.. with locals looking at them that much harder.

Additionally, the loan is non-recourse (except for bad boy carve-outs, which is standard) and provides very competitive loan terms.

Would they view this property as pre-existing non-conforming?

I'm looking to get a HELOC on a non-owner occupied 4 unit investment property in Rhode Island.

Quickbooks is a very user friendly software for the non accountant, just find an accountant to set it up for you. 

You’ll probably have to search using more non-traditional off-market approaches.And I’d look at Dallas and Salt Lake City first.