Now I think my biggest risk is that I can't be so anxious to get a deal that I do a bad deal, it's a balance of tempering passion, ambition, and solid numbers. 

I suggest, as I have done, diligent use of leverage balancing this with not taking on too much risk, focus on acquiring cheap (below average cost of housing) properties, in safe/quality neighborhoods. 

Everyone wants to feel safe, live in a nice place and enjoy the management.This move increases you tenant retention numbers, make ready’s are a leading cost in the maintenance section of the balance sheet.It would also be a big plus if the new management company had repositioning experience but that might be asking for a bunch.

My question is can I then find out what the current balance is on these?

8 plex Price 90000 Down 90000 Balance 0   Rent/Unit 425 Units 7 Total Rent 2975   Taxes 80 Insurance 170 Utilities 700 Management (10%) 267.75 Vacancy (10%) 297.5 Maintenance (5%) 148.75 Capital (5%) 148.75 Payment 0 Total 1812.75   Cash Flow 1162.25   Cash Flow/$1k 12.91389 Capitalization Rate 0.154967 ROI 0.154967    

I think credit card debt is probably the obvious category that needs to be kept a little to zero balance due to typically high rates, but what about auto loans?

Next, decide when the remaining principal balance will be at 80% of projetted appraised value. 

I recommend that you pay part up front to help the borrower pay for moving expenses or a rental deposit, and the balance after borrower has vacated and left the property in good condition. 

However, when an owner financed older couple could not balloon pay me off after 4 years, I ammended and extended the contract 8 years and took 7 k off the balance after the well collapsed and also loaned them $3500 on the back end to diy tin the roof.

Go ahead and make it an insured transaction with owners policy so that you know about anything else attaching to the property, the correct outstanding balance, etc.