That's really expensive for any type of hold (rental property) - but maybe feasible for a short term flip.  

My net cash flow from my rentals is now 17k/month after all my expenses.

Reduce expenses.

@Gino Barbaro- Lastly, I was told that if I am going to rent it anything more than 30 days, I can still do it without any permit requirements. 

I recently attended a probate sale and it required 10% offer price of deposit to be elligible to attend the bid.

A borrower, opposing counsel, adversary in any manner is only required to disclose what they are required to disclose. 

If at all possible, minimize your living expenses (live with your parents, or house hack) until you get established with your real estate business.Any hobbies you have, seek out others with similar interests and build relationships. 

Property Summary:List Price: $230,000Estimated Monthly Gross Rental Income*: $3,400Estimated Monthly Operating Expenses**: $1,500Net Cash Flow: $1,919I have a business partner who may be interested in either a private lending of full equity arrangement, and I want to be sure that the deal is beneficial to him.

Additionally, am I required to provide a copy of the ledger to substantiate these deductions?

When these homes get listed, we get photos and the 'dream of owning your own vacation home' So we have to start with price & location..if those both meet the criteria, then we hone in on weather we want one that has not been taken care of and likely not generating enough income to cover expenses or one that is fully themed and likely will continue to do well if all else stays the same.