For example, I don’t need to prepare a balance sheet!

Alternatively, target non-FHA buyers to avoid this issue altogether.Consult a Real Estate Attorney: Ensure your contract language is solid, especially with regard to title protection, seller obligations, and your rights in the event of default or dispute.By balancing your need for control with the costs of formal closing, you can structure a deal that works for both you and the seller while protecting your investment.4o

"UPB" stands for 'unpaid principal balance' which refers to the outstanding principal still due on the loan. 

How does one manage this work/life balance?

I have seen a Heloc lower an investors scores due to excessive tradelines and due to the balance to credit limit percentage.

Operating Cash Waterfall looks as follows:1) Dad gets 10% pref on his unreturned capital ($4m * 10%) = $400k2) Dad / You / Sis split the next profits 20 / 40 / 40 - $80k / $160k / $160kCash Waterfall on a capital event (cash out refi or sale) as follows - lets say it sells for $5m in a few years1) First dad is paid back on his unreturned capital + any unpaid preferred returns - $4m2) Then balance is split Dad / You / Sis   20/40/40 - $200k / $400k / $400kYou could do management fees for additional involvement, fees upon a sale, etc - can go wild. 

I’m 22 and have a 16k balance im tuition that i need to pay.

Balanced Market Dynamics: Corrections contribute to a more balanced market, where neither buyers nor sellers hold an overwhelming advantage, fostering a healthier real estate environment.4.

Hi @Adam HoekerI have my clients all on QuickBooks Online.We sync in their accounts to reduce human error in entries, and track each property's expenses and transactions to prepare for Tax time, this helps us to be prepared for 1099s as well, track Asset Basis and Depreciation, Mortgage Balances, and any Equity items.Since QBO is very common, it is easy to connect a Tax Accountant to this as well and have them pop in to grab reports they need to file. 

Our continued challenges are always balancing the need to keep capital deployed into good projects, while simultaneously trying to not run out of lendable capital and having to say no to potential borrowers.