I think all of the capital improvements you made will increase your basis too, but make sure to confirm with a tax professional on that.The longer you hold out, the worse it gets. 

Subdividing may not be an option.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

RE Professionals should prepare for an active Q4 and investors looking to close deals before year's end are recommended to get their financing and property search profiles clarified, and then...step on the gas. 

Look for insurance professionals specializing in real estate, and reach out to local lenders to discuss your investment plans.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If you find a problem, deal with it immediately by making the tenant correct it within X days (and verify with another inspection) or remove them from the property.Most DIY landlords lose more money to simple mistakes than it would cost them to hire a professional property manager.

It is a small bath room so I will ask a professional if possible to add a shower.Thank you

The LTR unit's depreciation and losses would be considered passive and can only offset other passive income unless you qualify as a real estate professional.

{This is a general question on preferred equity investing not Wellings specifically, they seem like well run/professional/experienced group.}