The beautiful thing about the cost segregation is that the cost seg company will give you a breakdown of what the cost seg study will cost and the likely benefit of the study before you have to pay for it, so it's a win, then play scenario.

Most folks have W2's, kids, and a family life to worry about too.I spent 5 years building my team in Detroit and there were many moments where we (wife and I) wanted to throw in the towel. 

@Mike H.I completely understand what you are saying about those that don't use an over all 10 year pro-forma business Plan with an IRR project need to be consistent in their strategy mainly because there isn't much else calculations like Cash on Cash Return calcs will let you do, then you can ignore the fact that it's the INVESTOR that cash flows the Investment.BUT, when you use a comprehensive 10 year pro-forma IRR Projection business plan, there is NO set Strategy other that what IRR number will you pull the trigger because EVERY strategy can be modeled.That's the whole Beauty of the IRR!

Same boat at the moment. 

Don't get me wrong.. this is BY FAR the most beautiful house I have seen EVER.

@Chris BrallThe moment you said Lake County, I knew you were screwed.

I was turned down for a HELOC with a different lender (a local credit union who would've given me more credit, but determined my current debt-to-income is too high, especially since the rental property isn't generating rent at the moment).I know that I can do a cash-out refi on the rental property in a couple months.

Ned is right, if you don't have a lot of personal assets at the moment then you don't necessarily need an LLC's liability protection.

When the numbers work, it's a beautiful journey.  

My question is, does that begin from the moment it became a rental or is there a "lookback" period, allowing me to count prior repairs & maintenance for a certain amount of time?