I use an app called MileIQ - it documents all your miles and calculates how much you make for each trip.

They will open escrow, do a title search, lien search, issue a title insurance policy, calculate pro-rations, order payoffs, prepare a settlement statement, record the deed, etc. as part of the closing process.I AM ONLY EXPLAINING THE PROCESS HERE...THE FOLLOWING IS NOT TO BE CONSTRUED AS LEGAL ADVICE, WHICH I AM NOT QUALIFIED OR LICENSED TO GIVE - CONSULT AN ATTORNEY FOR THAT.But, yes, assuming your contract calls for clear title (a good example is the Florida Realtors Vacant Land Contract, paragraph 7), then yes - you could conceivably make an offer using similar terms, and once you and the seller have agreed to terms and signed the contract, you could take the contract to the title company and they would work their magic.The title company would let you and the seller know what they uncover during the title search, lien search etc., and the onus would then be on the seller to settle any outstanding liens at closing (assuming they are less than the purchase price, they could come out of the seller's proceeds on the settlement statement and be paid by the title company).

It would result in a better answer for tax purposes since you'll have lower taxable income but would investors prefer to have a higher NOI number instead?

If the clock is already ticking you may be forced into the "ok deal" category or just having to realize your taxable gains. 

Have you run the numbers using the BP calculators?

How do I calculate this? 

So, I calculated it out, if we are really careful, we could pay down the $20k to get to 78% equity by the end of the year, but I would rather use the cash on purchasing another rental.

So your calculated effective overtime income if you apply for a mortgage with this jumbo investor in November will be approximately twice as high as it would be if you applied in April or May even though in reality you make exactly as much this year as you have for the past two years.And the net effect to a borrower of this, is that you might end up with a higher rate (if we assume that this jumbo investor happened to have the most competitive rates the day you went into contract) because some person making up a completely idiotic worksheet doesn't know how to math and some investor has a firm "no exceptions" policy.

BP also has analysis calculator tool.

But I used it in my calculations, based on what the seller told me he currently pays.