The response I could give you is that it really all depends on location and the type of home. 

I would also include in this addendum who is responsible for what.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

A cost segregation study looks at the overall building that you purchased and breaks it down as much as possible.The purpose of this is to increase the depreciation expense.Without a cost segregation study, you are depreciating the property over two items(Building and Land).However, a cost segregation study might identify items such as fencing which might be eligible to be depreciated over 15 years instead of 27.5 years.Depending on the year that the building was placed into service, you might be able to take bonus depreciation on certain items.The follow-up question to ask your CPA is will the cost segregation study help me, and by how much?

LOC on business purpose doesn't really make sense from a lenders perspective.Think about it, you have to tie up funds and not earn a return until the borrower wants to use them.Time is money and if your lending money you want a return each day your money is out.I'd strongly recommend just going with a cash out refinance and avoid spinning wheels looking for a LOC. 

If it takes 45 days to find a new renter, the old renter is responsible for 45 days of rent.

But larger repair items such as appliances and mechanical, plumbing, electrical, roof windows doors etc should still fall under the landlord's responsibility.

Asking the MF Group     What's your purpose here, is it to grow your:- Network- Knowledge - IncomeI understand ultimately that these seemingly unrelated dots ARE connected, but why are you here, this is a great opportunity to share your story.

No one is going to subsidize your cash flow on their behalf taking on all that responsibility for what they could have made as a teenager working at McDonald's. 

Hi Bryant, thank you for your response and valuable information!