I'm thinking about buying a unit from Lowes or Home Depot myself and then finding someone to install for me.

My goal is to let rent fully cover my monthly loan payment and generates couple hundred positive cash flow every month.I am considering to buy a house around 200k with some mild renovation need to be done.

Property: HereComp: Here (Sold on 8/1/2022 same street)84 Grangerford Hts, West Henrietta, NY 14586Listed : 100kHML at 80% of ARV (240k) = 192kInterest only payments (10% interest)(192k x .10) /12 = $1,600/monthPoints = 2 (192k x .02) = $3,840Loan origination fee's = $1,000Additional monthly holding costs:- Taxes (5k/12) = $416- Insurance = $60- RGE = $120Total monthly = $596Duration of rehab = 6 monthsInterest only ($1,600 x 6) = $9,600Points = $3,840Origination = $1,000Holding costs ($596 x 6) = $3,576Total Holding costs = $18,016Loan amount of 192k:Subtract:- Purchase price = 100k- Closing costs (4%) = $4,000- Rehab = $50,000Totaling = $154,000Remaining balance on loan= $38,000Sale at $240,000:(-) (Realtor fee's (6%), closing costs (4%)) = $24,000(+) $38,000 Remaining from HML(-) Holding costs ($192,000 + $18,016) = $210,016Profit ($240,000 + $24,000 + $38,000 - $210,016) = $43,984 - (capital gains at 22% completely estimated) = $34,308Buy and hold:Appraised at $240,000.

Curious as to why you installed carpeting instead of longer lasting hard surface?

I would leverage the property with a 60% loan to value loan.

They are the ones that know how to write up loan docs for private loans. 

With 5% down conventional loans and FHA loans, buying a property with two or three units can cost less than $30k out of pocket.

10% second home loan though Northpointe Bank - Jeff Chisum & team.

Currently, they are posting to the loan liability account only: From the loan account > draw bank account as a transfer in QBO.TIA!

The only item that I haven't found is how to account for loans on the balance sheet.