Loan to ________________________________________ Balance $___________________________ Interest rate: _________ %, Monthly Payment $___________________ Loan Number _____________ Date last payment made____________________________ Loan current through _________________Other liens: ________________________________________________________________________________________________________________________________________Any overstatement in the above loan and lien amounts will be added to note to seller.

While your property management companies provide monthly statements, having a dedicated account will make it easier to track transactions, verify statements, and manage cash flow.

Purchase price: $25,000 Cash invested: $5,000 I bought this property in a package of 4.

That property would never cash-flow with today's interest rates.   

Purchase price: $177,000 Cash invested: $68,000

You are buying the property with a cash flow-that's great!

From my understanding, I'll need 20% equity in the house for me to do a cash out refi which may take years to accomplish. 

I have found that both are good, Propstream tends to be more saturated in regards to the amount of people using it.

From an amount down standpoint, they'll like want a minimum of 25% down.

Definitely seek some expert advice from an accountant or CPA who can advise you on the best ways to reduce the amount of taxes you owe to the IRS