The entire net profit would then be applied to the HELOC thereby reducing the outstanding balance and further reducing our monthly payment.  

They both seem to run the same yearly reocurring balance transfer promotions from 0-4.99% interest with no balance transfer fees for 12 months.  

I believe my balance sheet should reflect an $110k Property in the ASSET column and 60k MTG in the Liability column to accurately reflect the 50k increase in Net Worth...  

@Chris SeveneyPurchased one note this year, $2.2 million principal balance paid $1.78 million.

HELOC#2 has no balance.

Also if you decide to convert the property to a long-term rental the improvements may be added to your capital basis & depreciated over time.Track Expenses by Account - Helpful for reconciling bank accounts, credit card accounts & expense reimbursements#2 Liabilities / Outstanding Loan BalancesIf you are using outside funding, you will also want to keep track of your outstanding loan balances that you owe for each property.You can do all of this in an Excel spreadsheet by just creating columns for Category, Vendor, & Accounts.

Lowest conventional down payment is about 3% with the best credit, most will be 5% at the lowest with good or better credit.Investor based loans are usually 25% to 30% down because they often keep the loans on their balance sheets and don't sell them to the secondary market.Only way for you to borrow 100% is if you partner with someone that will come up with the other 25%-30%.

However, they are likely one of the safer plays with enough education and experience since they are typically purchased at major discounts relative to the outstanding balance or property balance. 

If the work is not 100% complete by the end of the Escrow period, loan may implement a .50% (on total loan balance) extension fee that will cover an additional construction term of 60 days.

Think about it from a Balance Sheet perspective - you're converting cash to a note receivable.