@Robin DassyI went with a 15 year because I wanted debt pay down while the property was my primary residence.

How can all of us combined be of value to the team while being as cost-efficient as possible? 

Debt service looks like it will be about $43,800.

Debt service looks like it will be about $43,800.

I decide to go with the route of separating the lot with the rest of the house and list that first, and then later on list the 2 units that could be combined if necessary but i would not go through that trouble. 

The important thing for everyone participating in the deal should understand the importance of your involvement in the deal and that this would not happen without how you used your mind to make this happen.You should get most of the renal net of the positive cash flow after any debt is paid. 

He also suggests that it should be having positive cash flow after any debt payment on day 1 before you make an offer on it. 

The debt consists of our personal mortgage, the rental mortgage, and a HELOC (that was used for the down payment on the rental). 

Having positive cash flow including any debt service paid plus any other indirect expenses on day 1 of ownership is usually the way to go.The more units, the better. 

Last, I do explain to all tenants that I will take the combination of best credit, income, and cleanliness factors.