Recently, I was fortunate enough to be involved in the ground floor start up of Invitation Homes (INVH) which finally went to the public markets this past February.

and if so, I am assuming we would provide the "startup" money for this LLC then the LLC would purchase the properties. 3.  

The only thing that can compare is actually having true ownership at the start up level, which is not a publicly traded stock. 

We are going to apply for a small business loan to open the LLC and for any additional start-up costs. 

That does not include your brokerage fees as they are dependant on who you elect to affiliate with.While it takes about $1500 to obtain your license Real Estate, it is relatively one of the cheapest occupations in terms of start-up costs. 

I think - and I might be wrong - that you have to carry that as a startup cost for your next purchase.

We have several co-working spaces in Santa Barbara however, there is definitely a need for it due to the high level of startups and young entrepreneurs.  

It's a Plus for your tenants.. would I want to lug laundry down the block or down to the basement.. your tenants will stay longer, and you'll rent the units out quicker. overall original start up on anything is a cost consideration.. call around for quotes on lease options.. ask if they have used machines for sale ... check craigslist for used machines. 

You could refi your 50% equity property to pull out more cash and use that and the $200k to buy more rentals or to invest as you like (Crowdfund, syndication, stock market, oil, metals, start ups, etc).

Here's a handy timeline chart that I used yesterday in a post to show where an expense should be allocated depending on where you are in the process.There are a few other caveats regarding business trip deductions and start up expenses that you will want to talk to your tax professional about as well.