You didn’t expect this and now your in the red for the year on cash flow.

She is going to be flipping the property and expects to repay me  within 6 months.  

I expect a reasonably higher rent per square foot in the area.So, I just need some advise on how to create the lease.

https://www.screencast.com/t/RYBI1ZKVVhm - Must i pay for skip trace or is there a free and easy way?

Have referral for prop manager but haven't contacted yet.Close expected 1st-2nd week of July.I think my next steps is to contact an insurance company to get my property insured. 

@Jj Horst"Wish in one hand and $**t in the other and see which fills up first."

Not trying to scare you off just want you to know what to expect. 

My expected closing costs are about $15,000.

This is a question for your CPA/tax adviser that I can't answer but it is one you need to ask to get the full picture and may sway your choice of equity source.Finally, on the expected rents, how are you determining that $650 is a realistic number?

BUT, be sure there aren’t other fees and such tacked on that you don’t expect.