Congratulations, you get to share your partners tax burden and pay the depreciation recapture at ordinary income rates. 

I can's imagine a situation where all 4 tenants have elected to hand wash their clothes and use the dryer (there is no utility sink in the laundry room).Can you think of any reasons why the dryer would be used that much more/washer used that much less?...

I would love to see how you have utilized the system for investing.

With the recent tax law changes in capitol gains taxes in Canada and this property not being their primary residence.

Are there any tax implications or considerations for Canadian investors investing in the U.S. through an LP?

Keep in mind that pool maintenance and chemicals will set you back several hundred a month, plus higher insurance, utilities etc.

If you do have enough other income then you dont even need to lease out this property to start your refinance.However if you dont have enough income to qualify with no rental income offset then yes you will need to obtain your lease(s) and security deposit + 1st months rents deposited before you can utilize 75% of this gross income - your monthly PITIA payment (in terms of qualification on this property refinance.So all in all Id make sure what your current debt to income position is first of all (DTI) and then strategize to see if you even need the leases at all.

Do we 1st do tax on the LLC and whatever we split 50 & 50 then each claims on their taxes ?

This property is gonna cash flow over $1000 a month after we're all said and done with utilities mortgage and more.

Most likely raising funds from passive investors would utilize a Reg D 506 b or c safe harbor exemption from registration.