I am personally contemplating how much debt I am comfortable working with and trying to find a balancing point that I can feel very confident with

Every agent should know that in a loan mod, a portion of the principal is temporarily "put on the side", usually about a third, for the sole purpose of calculating a new lower payment (ie 2% interest, 40 year amortization) on the remaining lower balance.  

 (1960's build)The value is really all in the land, but there is this reverse mortgage hanging out there, and the balance exceeds what I would pay for the land.The good news is that the property is located in an enclave where major developer/investor tear down activity has been going on, with properties selling >$1mm, once developed.  

Mike made some excellent points.Also you will need to know when the note was created (date) and the last payment received from whoever sold you the note as well as the balance owed.

It will actually walk you through all kinds of scenarios you might encounter with notes such as balloons, paying partials, remaining balance on existing loans, calculating your roi, calculating offer price based on your roi etc.

The number of homes to sell to return balance to supply and demand determines the depth of that.

That's how much equity you should have in each LLC.Some people feel that having 4 properties per LLC is a good balance, but to each his own.

I have had the card that I am rolling the balance onto for about 4 years now and always paid it on time.I am wondering how it will affect my FICO score to have 13K of credit available to me, my balance will be about 6k.

Your profit potential, THEIR balance, was frozen at purchase and will only decrease in the meantime.

Third, calculate or ask what his outstanding principle balance is.