You can deduct all realistic business expenses, including mileage, meals, allocated cell phone use for business purposes, home office space, etc whether you own the flip in an LLC or personally.  

Assets identified in this study include:Building systems: water heater, electrical distribution, HVAC, plumbinPermanent Fixtures: windows, doors, bathroom fixturesStructural Components: Roof construction, drywall, wood framingInterior Construction: Wood flooring, stairs, ceramic tileThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

I allocate 5% for CapEx, 5% for maintenance and 5% for vacancy.

But, my point here was that part of the reason I'm noticing deals don't cash flow is because of the amount of capital I'm allocating to expenses and maintenance as a new investor.

Now you get an actual accurate allocation for cap-x. 

At the present rate of rent it is not within our budget to allocate the funds for this expenditure. 

I'm primarily working on fix and flips around South Bend and Elkhart, and I'm always looking to fine-tune where to best allocate funds.

Both companies expect to benefit from optimized capital allocation and simpler operations as they focus on their core strengths in the post-spinoff phase.

@Bradley Hendrix, You can allocate the proceeds any way you want, as long as you purchase at least as much as you sell for, and use all of the proceeds in the 1031 exchange.You could sell the apartment and purchase Two SFHs with a 1031 exchange. purchase one for cash and the second with debt.

I get a standard bill from the city every month which makes it easy to allocate.