They had a survey done and the boundaries shifted a bit from where they thought the property lines were.

For accounting, we use QuickBooks Online for all of our clients (100% are REIs; some have MTRs).- Time Capital Bookkeeping (REI since 2019)

So having an equity cushion is more beneficial.You can absolutely do io and be fine but I'd be banking those cash reserves in case you need that down the line for a cash-in refinance, accidents at the property, or to shore up personal finances.

Some investors wait months for bank approvals, while others line up funding in a week or less.

For private seller finance lenders, how do you track the payments and loan amount? 

He had to get a 15yr mortgage and got his 1st rent on Nov 1.

We're visiting a duplex on Friday and the seller is open to VTB (seller financing).

Looking for seller-financing.

I’ve seen a mix of experiences with turnkey companies, so it really depends on how “hands off” you want to be and how much you trust their rehab quality and numbers.

Even if bought below market value, one major capital expense—like a roof or water service line—can erase all perceived equity.