I am using QBO and want to account for utilities that I initially pay for (since they are shared throughout the building), and then the tenants reimburse me for each month (each unit pays a % of the total). 

This is where you will spend the bulk of your time initially is educating yourself and looking at opportunities.

That is still a very good return for a less than $16K initial investment (down plus closing but you may have put the closing cost in the loan and had even a smaller initial investment which would increase the ROI).You appear to have done great even if compensating yourself for you handyman labors.Great job and good luck

I have also received a few private messages so I'll be reaching out to them for some initial discussions.Trying to weight a conventional loan agains having to register a LLC for a hard money loan.

The payment plan would be the same as option 2.Pros:My minimum monthly mortgage payment would only increase by roughly $100, which would make this initial investment very low risk.Cons:Would have to rely on the higher interest Heloc for next investment.

The numbers look good, but I noticed that the initial equity is negative.

We had initially heard of the building through a local broker when it was off market in late 2017.

My strategy would be to BRRRR them with cash, no initial lending.

This $66,000+ and the initial $74,000 seems like too much liquid assets to be tied into a single property that probably won't give me much ROI.3.) $4,000 or so to complete foreclosure, 30-120 days.4.)

I did reach out to the agent after I got that initial email and we talked a bit about where I’d have to be at to make the deal happen.