Even then, EVERY accomplished investor I've talked to (and there are hundreds in the Chicago area) has been more than willing to walk someone through a deal, to check their calculations and reasoning, and to recommend a conservative approach until experienced.There has been some balanced commentary on BP, but the majority of what I've seen seems to come from ignorantly formed, snap opinion, based on little actual knowledge, or anecdotal stories of the occasional bad apple.

Your balance sheet looks pretty decent.  

Loan Balance: $68,000.00 Adjusted Loan Balance: $68,000.00 Loan Interest Rate: 5.00% Loan Term: 15 years Monthly Loan Payment: $537.74 Number of Payments: 180 Cumulative Payments: $96,793.11 Total Interest Paid: $28,793.11 Note: The monthly loan payment was calculated at 179 payments of $537.74 plus a final payment of $537.65.

@Jay Hinrichs - average rates in Texas are  12% & 3 points, as low as 10% & 2 with a strong track record/balance sheet.

Can a spreadsheet identify your math mistakes in a accounting balance?

Consider using Double Declining Balance method - - skews major portion of depreciation into the early years :)

You can always use an amortization schedule, but this just increases payments, reducing cash flow, and doesn't do much to the principal balance with a 7-10 year balloon window.

Hi @JJ Conway~Amazing--I am a huge Dave Ramsey fan as well as a Robert Kiyosaki fan and am curious how you balance the two and how the financial coaching program works.

However, Tim & Jennifer want to use the deposit they received from the buyer, plus the proceeds from the investor loan (note #2), for a deposit on the purchase of another home selling for $4M, and get a mortgage for the balance ($2.9M down, with a $1.1M mortgage, ignoring fees).

The balancing act is to not have so much that you look attractive to a lawyer while still covering actual/potential liability.