You should consult with a CPA to help you strategize to minimize your tax liability! 

Strategically, you have to either remove the source of the odor (porous material), seal or encapsulate it.The drywall and baseboard trick you mention is important.

As @Brian Burke said it does not have to be, but can be a strategic move if your investor place a higher priority on the cashflow or vise versa. 

Cold calling is more about tonality, active listening, and strategically sequenced questions than it is about the content in a script. 

Once you learn that accessing this pool of funding with special business credit cards is actually a very good thing because banks will increase the amount of credit they provide your business as you prove you are a good client, you will have positioned your new venture in a strategic way to dramatically increase your chances of success.After having people for 37 years ask me to teach them how to get funding and how to invest it, 8 years ago I put a group of very talented committed people together to educate and fund investors and business owners.  

Your only bet would be hoping for appreciation (which is more likely in SD, but still should be a strategic move or you risk losing a lot since it's negative cash flow every month).

You are correct the properties I own are older, but that's nothing $50K strategically spent up front (and included in my cash on cash calculation) can't correct.

Rentals should not be held in a corporation unless for strategic tax/estate planning or enhanced liability protection.

Sitting down and strategizing goals would be step #1, writing them down and committing would be #2, and I think #3 is figuring out the most cost effective way to get it done would be the propelling factor to making it happen.Good luck!

I have two investors with cash and ready to join me , one problem is that they want to join my company and thats an issue because at the moment my partners and i are new and are waiting for a deal so that we can work our own kinks out before even thinking of adding people to the mix that have no strategic purpose aside from the cash.