Furthermore it is not exactly the cash flow method that you are looking for.

Hello,We are looking for the correct type of QuickBooks software to use as the website has several different version.

Your math is correct.

In doing this, what is the correct way to go about it?

Yes that's correct and most people aren't using HML's for down payments they are using them for value add deals where they can force immediate equity through rehabbing and then refinance out into a better loan program.

I have several properties in my portfolio including a 4 plex I'm closing in about 10 days. 7% seems very conservative, I think you could find some deals with an cash on cash of at least 10-15% if structured and purchased correctly.

Jared - You are correct in that we are being pitted against other property owners, at least that is how I see it as well. 

@Logan Jorns, if I understand you correctly, I think you want to continue with the flipping business, but you're also looking for a way to defer paying capital gains taxes without having to wait two years to sell, correct? 

Again, it's a less exactly method of getting to gross rent potential but it's a start.   

It really depends on what the area requires.Here in AZ, it is a 3 day Cure Notice, which gives them 3 days to correct what is wrong, or be in breach of contract, and subject to eviction.