I will definitely take incorporate in the extra 10% for rehab cost. 

I also removed vehicles, cleaned yard, Removed old ceramic flooring and drywall to the studs.

Here’s a breakdown of what I did and the costs: Labor. 29,176.53   - New Railing and Spindles– Exterior of House- Remove damaged flooring- Refinish and Stain Hardwood Flooring- Install Vinyl Plank Flooring on Floor 2- Install ceramic tile flooring in baths and Unit #1 kitchen- Paint Interior (Walls / Ceiling / Trim)- Install New Kitchen Cabinets Unit #1- Paint Kitchen Cabinets Unit #2- Subway tile kitchen backsplash and Unit #1 shower- New Plumbing throughout house toilets / sinks / garbage disposals / tubs / faucets- Install new light fixtures and recess lighting in kitchens- New doorknobs and hinges throughout- Replace electrical outlets and switches Materials - 2 Apts (Home Depot)...............$8,201.93Stainless Steel Appliances – 2 Apts (Lowes)....$3,300.00Quartz Counters – 2 Apts ............. $1,800.00Electrical repair / rewiring ............ $2,696.20Replace hot water heater................ $1,025.00Install Central Air Conditioning and upgrade heat........ $9,000.00TOTAL............... $55,199.69Gross Rents: $2,125.

From my perspective splitting utilities helps to show everyone has an equal stake in the property rather then incorporating it into the rent and removes the impression that you don't contribute to all the bills. 

New ceramic tile throughout the home, and matching granite countertops in all baths.

We are wondering if we should transfer the New York residence or incorporate it into our LLC that we have for the Florida rental property so that we can receive a larger line of credit to use as properties become available for purchase.

When I walked out of that office, people had smirks on their faces expecting me to be back in Corporate America within 3 months because ya know, "it's tough out there, 90% of startups fail, real estate is risky and the list goes on".

@Dan LingerI started investing when I was in corporate America and it didn’t stop me.

For $20 you can buy a kit that replaces all the working parts of a toilet. ie everything but the ceramic parts and the seat.

And think about how you can incorporate being open into your life and investing career.Best of luck!