If there was a method of collecting rent online that didn't require me to send out invoices and didn't cost a bunch (I currently pay $.50/ payment for processing) I might change tactics.  

You can correct this oversight by filing a form 3115 with your tax return which will allow you to correct all of the past errors at once and establish the correct method going forward.File an extension for 2016, send in a little money if you usually owe with your extension request and get thee to a competent real estate focused CPA.

Tappan, Jr.Even after 40 years in this business I always refer to this book for advanced creative methods of doing deals.Charles

Also, any suggestions as to best methods to find "motivated/distressed sellers and/or properties", certainly not on the MLS sites.

Also, any suggestions as to best methods to find "motivated/distressed sellers and/or properties", certainly not on the MLS sites.

Closing costs on refinances/HELOC's can be lowered with either seller paid contributions or packaged into the loan (correct me if I'm wrong @Chris Mason) but you could do a number of creative financing methods to get what you want.

I think a brrrr method of refi would allow you to do 75% LTV base on ARV but to me, if the property was listed for $240k and didn't sell, you'll need to question that as well.

Hopefully the meeting will provided  good partnering opportunities and or networking opportunities for people to talk about Flipping houses or BRRR methods, out of state investing methods and strategies like Turnkey and rental property experience.

I also requested he have at least one more roofing contractor walk the roof before we settle on this method.

Every time you spend money from that account it will take out a small percentage - or whatever you ask- from that account and put it aside so that you can withdraw that money and do whatever you'd like with it.