When I started adding rentals, I kept it pretty simple: spreadsheets were my main tool for tracking cash flow, loan balance, and equity growth.

This can make it difficult to finance the property. 

After my due diligence, They are given 24 hours to sign the lease and pay the balance of their move-in fees. 

Selling a seller-financed note often comes down to balancing immediate cash versus long-term income.

When they NEEDED to get out, they tend to give somewhat of a discount to the balance owed.

The hardest part is finding a firm you trust that balances quality of work and pricing.

You can use a variety of Creative Financing such as a WRAP.WRAP – A wraparound mortgage "wraps" around the seller's existing mortgage, meaning the total loan amount includes the unpaid balance of the original mortgage plus the additional funds needed to finance the purchase.

— Christopher McDaniel This will be a lender specific question as guidelines are different from HML to HML but generally most lenders would apply it towards the principal balance and the cash to close.

If you have a good year you can always pay more towards your balance.

It can take a long time to get everything in order and you don't want to be under the gun.I will say right up front there will be no life balance for this project IMHO.