I'm obviously not an accountant but I'm trying to follow GAAP practices so my P&L and Balance Sheets look solid for the bankers...What type of account is the correct choice for the Chart of Accounts "Down Payments?" 

I can provide the contact of who can in case your banker does not know

@Daniel Rudio As other have pointed out, the banker is trying to season the private loan so that its not reflected on the loan.

Not just say so... you want to have POF ready to go.. and a real one not one from a HML or the kind you buy.. but a bank statement or a letter from your banker... without liquidity and ability its all talk...

I know that isn't your intentions, but still just an FYI that I've had many bankers tell me they didn't approve of that type of transaction.  

.), and connecting with atleast 1 new person in the real estate space a day (bankers, investors, wholesalers, brokers, etc.).

I’ve had trouble finding bankers willing to even talk because of the average price per property. 

<<Bankers will lend you money on properties that are complete junk, as long as the comps ck out and the appraiser comes through.

My barber gave me some really good off market leads, I will try my insurance agent and local banker next and see if networking will pop out that building I want!

You want to know about BRRRR just ask if it's financing ask a banker, available rentals ask an agent, cost to renovate ask a GC.