I'm completely novice to Excel/Spreadsheeting, so as step-by-step as you knowledgeable folks can get would be appreciated!

I always thought my principle pay down was high, so it makes feel better that you confirmed that....My properties range in price from $18k-$45k, example of one of mine:Purchase price $38kLoan Amt: $36k (this was back when they only required 10% down, but the SVP at the local bank let me slide with just $2k.

I don't have much equity in it right now anyway.Here is a link to my folder with the excel spread sheet.https://www.dropbox.com/s/nk2s5uxrlq4qnce/spring%20valley%204plex.xlsx

Id pay back the 50k owed, and use the 20-25k equity to completely pay the 21k into the "flip" i paid cash for (i have a comfortable cash cushion)and pay out of pocket for renovation (in cash), live there for 2 years, profit 50k and roll that (tax free) into a new home, with excellent schools, outside the city,where we really want to lI've.

Sounds like an excellent age to start.

Thanks for your excellent suggestions, I will talk to the lender and the CPA, then I will post their responce here to further discuss with you.

If I invested in much larger properties (20+ unit MFHs) I probaby would do a more rigorous examination of the expenses and rents a seller claimed.But that's just me...others can certainly provide excellent reasons a Sch.

Similarly, I just started an eviction (my first ever) with a long-standing, excellent tenant.

@Michele Fischer has a nice Excel spreadsheet that she uses.

Every 40-acre tract of land was sold in about 18 months - all using seller financing provided by my father.My father had all the property sold and producing a cash flow Before the first payment was due to the poker player.This is an excellent example of how to invest in real estate without the burden of debt.It is also an excellent example of knowing the details before negotiation begins.My father’s situation is also an excellent example of being extremely good at what you do.