That would have been the easiest and cleanest way I believe.So with all of that said (hopefully it makes some manner of sense), how can I keep track of each property's true balance and when each property has fulfilled its debt to the HELOC and we can start splitting the cash flow 50/50. 

We have never (or rarely) work out when an SD isn't provided upfront. 

We are on track to accomplish most of our goals for 2021!

Nick kept me on track for the 90 day challenge and when I was freaking out that I was "buying a crack with a house around it", Nick helped me take a step back and see (and understand) it for what it was, "not a big deal".

That would have been the easiest and cleanest way I believe.So with all of that said (hopefully it makes some manner of sense), how can I keep track of each property's true balance and when each property has fulfilled its debt to the HELOC and we can start splitting the cash flow 50/50.

Depends on your situation which would work out best.On the selling side, again you have two main options, list for $1M with a listing commission % (of whatever you choose) and still offer selling agent commission as standard for your area, or option 2, list with no list commission and lower your price by the commission amount it would have been to attract more buyers at a "lower list price".I have done both and it was all situation dependent.

If it's 5 or more units then YES, you're on the right track as far as how the bank/credit union will value the property.

South Philly is a better flipping market right now due to the high entry price, the only times I've seen rentals work out is when you can convert a SFH to a duplex.

And my clients have to scramble (usually then choosing to talk with one of the local lenders I told them about) and we get to closing....they're stressed out, and I'm like "local lenders have a brick and mortar office you can go to, sit and talk with them eye to eye, and they have a track record with my past clients"...local lenders most always out-perform the large national lenders that advertise how great they are.Often, people will end up refinancing after 1-5 years anyway, so the absolute lowest rate is often a moot point.  

I know of several areas in my markets where something as simple as crossing a street or train track can change values by hundreds of dollars.