I cannot subtract the K-1 taxable earnings from my cash earnings since they are both taxable earnings.Thus, for my first year estimate, it's not: $8,000 - $5,000 = $3.000 but rather something more like:Cash: $8,000K-1: $5,000Total: $12,00030% tax: $3,600Net: $4,400Another way to look at this, then, might be to say that the $5,000 K-1 earnings is reducing my cash earnings by ($5,000 * .3) = $1,500. 

I was thinking can that entity for example be a Series LLC where each series is tied to 1 property and i would be able to add or subtract properties as needed? 

It doesn't matter that the rents aren't showing up on you last tax return, they will just take your gross rents from your leases and subtract 25% as a vacancy / maintenance factor and then subtract the new mortgage PITI from the remaining number.

Subtract rehab costs from ARV, then multiple times 70%.

Then you need to put $200,000 of repairs, so subtract 200,000 from 420,000 and you get $220,000.This is the max amount you could offer on the property to get your cash back out, and you're not even factoring in closing costs and holding costs.

If you want to flip it then it's $250K - 10%ish (closing costs, realtor fees, etc.) so that's $225K and then you subtract out all of the updates and holding costs. 

For example, let’s look at the CoC return over the 3-5 years:3 year return 92,000/295,800 = 31% over 3 years or about 10% per year (that’s if the profit you posted also included your cash flow, if it didn’t then it would be a higher percentage).5 year return 139,000/295,800 = 47% over 5 years or about 9.4% per year.Don’t forget that you will also need to subtract closing costs and you may need to rehab it again after the 3-5 years after the tenant moves out depending on how well they took care of the property unless you just wait until the very end to rehab it before you sell it.So you may ask yourself, is my goal to have the experience so that I can learn from having and managing a rental for 3-5 years or is my goal to cash flow as much as I can with the least amount of work?

It will also subtract from the the amount you can borrow on the HELOC by the amount of the outstanding balance until that balance is paid off.

Subtract that from your rental income and see what your actual cash flow from a property is when you pay 100K in cash.

They also bill monthly and you can add and subtract individual properties from your policy without rewriting the whole thing (good in our case of having a portfolio of properties).We are only a couple of months in, so thankfully we have not had to file a claim.