I would be glad to give you my opinion.Feel free to add me if you think you may have a tax question in the future.

I look at it this way:  if your forecasts project a 14% IRR and you deliver a 15% IRR, your investors will invest in future deals and refer their friends.

He and I are looking to partner in the future.

Well I thought it would have an impact on how I look on paper for the future.

Just a quick follow up on this (maybe someone will benefit from it in the future).

I explained that should I need to reach her in the future, being that she is located so far away could make things complicated.

@Dave Van HornOnce again I'm thankful for the guidance and I look forward to repaying you with lunch or coffee in the near future. 

I would use the cash flow for future capital or for paying down the principal. 

We can always cash-out refinance in the future, but will probably only do that for our primary residence (which is on schedule to be paid off in ~10 years).Without looking at your numbers, it sounds like you still need even more cash flow, either (a) through refinancing - such as your current plan to refinance  combined with buying more properties, or (b) you need to adjust your current living standard.

The important thing is to learn what went wrong and use that knowledge to ensure a bright future.