My vision is to keep it a while (it’s paid off) and use the cashflow to help with my kids college.  

You basically own 3 paid for properties. 

The amount of extra principal paid is almost exactly equal to the amount of interest paid on the HELOC. 

Talk to an accountant prior to doing the cost segregation study.You want to discuss whether it will be beneficial or not.In general real estate is considered passive which means that it can't be used to offset other forms of income such as wages, interest, dividends, capital gains, etc.However, there are some exceptions where the real estate loss can offset these types of income.best of luck.

Property values continue to grow in value, and you can actually live off the rental income.I think it's best to hav all properties paid off by retirement age, since that's when you are going to rely on cash flow for your living expenses.

Would the LLC need to prepare a partnership return for the dividend income and capital gains?

Quote from @Jeff Calcaterra: We have a potential tenant new to the area who has gone through a paid background check, signed a background check authorization form, sent us a LinkedIn profile, sent an offer letter and says he is willing to send us paycheck stubs, but says he doesn't want us to call HR to verify employment because he is supposed to have found housing already.

They only get paid 1% of the credit lines they get for you successfully.

A stress-free life is the best life.Why have 100 properties when you can live the lifestyle you want with less houses that are paid off.A paid-off house also is one less obligation that you have, no monthly mortgage payment that you have to worry about.

Quote from @Andrew Katz: My tenant paid a portion of their rent for December on 12/31/24 (late).